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Ethereum’s 2020 Defi Boom Doubles Active Ether Addresses, But Fees Skyrocket

The number of active Ethereum addresses has grown aggressively in 2020 because of the decentralized finance (defi) boom. Active Ethereum addresses doubled in size leaving networks like Tron, Cardano, and EOS in the dust. There’s a lot happening in the world of decentralized finance (defi) with things like synthetic bitcoin (WBTC), stablecoins, yield farming, decentralized exchange (dex) platforms, and more crafted on the Ethereum network. Since the end of 2019, data from Coin Metrics and Messari.io indicates that Ethereum addresses doubled in size throughout the year. Active ETH addresses have superseded BTC active addresses by a long shot and this…

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