Ethereum has 3x more holders than Bitcoin as traders eye $2K ‘discount zone’
Data from on-chain analytics firm Santiment shows that Ethereum now has more than three times the number of holders as Bitcoin, showing the network’s broader adoption even as traders closely monitor ETH’s price.
- Santiment data shows Ethereum has over 182 million non-empty wallets, compared with roughly 58 million Bitcoin wallets, giving ETH more than three times as many holders.
- Ethereum surpassed Bitcoin in total holder count in 2019 and has continued expanding its lead, reflecting broader usage across DeFi, NFTs, stablecoins and on-chain applications.
- Some analysts say Ethereum is entering a “discount zone” near $2,000, with traders watching whether the level holds as a potential launchpad for a new rally.
Ethereum holders now triple Bitcoin’s, Santiment data shows
According to Santiment’s latest data, Ethereum (ETH) currently has around 182.7 million non-empty wallets, compared with roughly 58.5 million Bitcoin (BTC) wallets.
The data indicates that Ethereum has maintained a significant lead in wallet holders since February 2019, when the network first surpassed Bitcoin in total addresses with balances.
The gap has continued to widen in the years since, reflecting Ethereum’s role as the backbone for decentralized finance, stablecoins, NFTs and other blockchain applications that often require multiple wallet interactions.
Bitcoin, by contrast, is primarily used as a store of value, which typically results in fewer active addresses relative to its market size.
Despite the strong adoption metrics, Ethereum’s price has shown modest weakness in recent trading. ETH was trading at around $2,023 at the time of writing, down roughly 1.1% over the past 24 hours, as the broader crypto market consolidates.
Some traders believe the current price range could represent a critical accumulation zone. Crypto analyst Merlijn The Trader suggested that Ethereum is entering a “discount zone” similar to the structure that preceded its 2023 rally.
According to the analyst, the $2,000 level is the key threshold to watch. Holding above that mark could potentially trigger the next major bullish wave for ETH, while a breakdown below it could extend the current correction.
