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According to Glassnode data, the number of addresses holding at least 0.1 Ethereum ($ETH) has hit an all-time high. The holdings are still small, but it's a metric of adoption that has already made waves among Bitcoin holders.
According to a previous report on Bitcoin holders from the data provider, those holding less than 1 $BTC are considered “shrimps” in the crypto food chain.
The report includes crabs (0-1 $BTC), octopuses (10-50 $BTC), fish (50-100 $BTC), dolphins (100-500 $BTC), sharks (500-1,000 $BTC), and the larger holders, whales (1,000-5,000 $BTC) and humpbacks (more than 5,000 $BTC).
It's unclear the exact underwater creature a mini-$ETH holder would resemble, but this population of crypto enthusiasts is nonetheless growing faster than giant kelp.
At the time of writing, the number of addresses with at least 0.1 $ETH has hit 3,978,224. By today’s prices, 0.1 $ETH is worth approximately $310.
As the graph shows, the total number of Ethereum addresses holding at least 0.1 $ETH has been steadily increasing for some time.
At the start of last year, 3,638,204 addresses held 0.1 $ETH, indicating the total number of addresses holding 0.1 $ETH has increased by almost 10% in just over a year.
Going back two years to date, the number of $ETH addresses holding 0.1 $ETH was at 2,654,853, meaning this metric has increased by an eye-popping 50% in the last two years.
During this time, Ethereum’s price has also increased by 1,061% from $267 to $3,102.
With such an uptick in Ethereum holders, the data suggests that much of the latest accumulation was due in part by the asset’s meteoric rise since 2018.