Ethereum Outpaces Bitcoin in Number of Non-Empty Wallets, Santiment Says

Highlights:

• Ethereum has surpassed Bitcoin in the number of non-empty wallets by over 100 million. 
• Santiment reported that ETH now has 189.49 million wallets while BTC has 59.08 million.
• Other cryptocurrencies with significant numbers of non-empty wallets were USDT, DOGE, and XRP.  

On-chain analytical intelligence firm Santiment has reported a massive surge in the number of Ethereum (ETH) wallets. In one of its most recent tweets, the analytical intelligence platform stated that the Ethereum network is nearing 190 million holders for the first time in history. At the same time, Bitcoin is closing in on 60 million wallets. A chart attached to Santiment’s post showed exact figures of 189.49 million for Ethereum and 59.08 million for Bitcoin. 

Aside from these two cryptocurrencies, Santiment highlighted other digital assets with significant holders. They include Tether (USDT) on Ethereum with 13.6 million non-empty wallets, Dogecoin (DOGE) with 8.3 million wallets, Ripple’s XRP with 7.8 million holders, and Circle’s USD Coin (USDC) with 6.8 million wallets. Other notable mentions were Cardano (ADA) and Chainlink (LINK). Santiment noted that these cryptocurrencies have 4.6 million and 871K non-empty wallets, respectively. 

🫴 Ethereum's network is nearing 190M holders for the first time in history, and Bitcoin is closing in on 60M. Other notables:

🪙 Tether $USDT (On Ethereum): 13.6M
🪙 XRP $XRP: 7.8M
🪙 USD Coin $USDC: 6.8M
🪙 Cardano $ADA: 4.6M
🪙 Dogecoin $DOGE: 8.3M
🪙 Chainlink $LINK: 871K… pic.twitter.com/J3YtmW7B0H

— Santiment (@santimentfeed) April 27, 2026

ETH’s Price Dips as Ethereum Outpaces Bitcoin in Number of Non-Empty Wallets

At the time of press, the crypto market is slightly down by 1.3% in the past 24 hours. Its trading volume is $84.125 billion, with Bitcoin dominating at 58.1% and ETH at 10.4%. On its part, Ethereum’s price has dropped by 2.1% within the same window.

The asset has a market cap of approximately $274.35 billion and a trading volume of about $14.5 billion. ETH’s longer period variables showed declines of about 1.8% 7-day-to-date and 3.8% 14-day-to-date. However, the asset’s month-to-date and year-to-date metrics showed upswings of about 13.5% and 27.2%, respectively.

On Coincodex, Ethereum’s Yearly inflation rate is negative at -0.03%. Volatility is high at 5.5%, while sentiment remains bearish. However, the asset’s Fear & Greed Index points toward neutral at 47.

Ethereum’s Active Addresses Attain New Height Despite Persistent Short-term Dip

CryptoOnchain, another analytical firm, reported a massive spike in the number of active addresses, which shows how many people are actually using the network. According to the platform’s analysis, the 100-day average of active ETH network users has reached a new all-time high (ATH) of 587,000. CryptoOnchain added that this surge matters because, in many cases, prices and network activity tend to move in the same direction.  

ETHER WELL OVERDUE A PUMP…?

After a collapse in late January/early February, the price of $ETH has failed to break above $2,500, even dropping below $2,000 at various points.

At the same time, however, @Ethereum active addresses have reached new all-time highs while the… pic.twitter.com/54FWIik2lZ

— BSCN (@BSCNews) April 27, 2026

Based on historical price movements, the rise in active addresses is supposed to elicit a surge in ETH’s price. However, this has not been the case, as Ethereum’s price has remained below $2,500 for a very long time. This disparity suggests that interest in Ethereum is growing strongly, highlighting real demand for the asset behind the scenes.   

CryptoOnchain stated:

“Historically, active addresses and price are highly correlated. This rare deviation proves that network utility, adoption, and fundamental demand are EXPLODING, despite the current market sentiment.” 

For some market watchers, the lack of correlation between active addresses and ETH’s price could be a sign that the asset is currently undervalued. This means Ethereum’s network is probably getting stronger. However, the asset’s price has not yet reflected that strength. If the ongoing trend persists, there is a high chance that ETH’s price will adjust to match the growing activity level.