Dogecoin Has Twice as Many Daily Active Addresses as EthereumBy Andy Hao
Bitcoin is the only cryptocurrency with over 100,000 daily active addresses.
In the last 24 hours, there have been over 640,000 active Bitcoin addresses, showing strong demand for Bitcoin through the longest crypto bear market in history. This figure has showed regular, steady growth in recent months.
But perhaps the more interesting point is that we’re beginning to see other cryptocurrencies crumble when it comes to their daily active address numbers. Bitcoin’s daily active address figures are almost 10x higher than any other coin.
As late as September 2018, it was common to see coins like Ethereum and Dogecoin well into 6-digit active address figures, sometimes as high as 300,000+ for Ethereum. But lately, those figures have plummeted. In fact, Dogecoin now has twice as many daily active addresses as Ethereum, according to OnchainFX. Coins like DASH, Litecoin, and TRON are all now showing higher daily active address figures than Ethereum.
DASH has actually jumped a few spots to claim second place overall with just under 100,000 daily active addresses, showing strong user growth in a tough market.
One final interesting point to note is the price/daily active address multiple of some coins are enormous compared to others. Coins like Decred, Zcash, and Dogecoin are seeing more daily usage than coins valued at 10 to 50x multiples.