Ethereum has solidified its position as the blockchain with the largest user base, with new data revealing 189.49 million non‑empty wallets – more than three times Bitcoin’s 59.08 million. The figures were shared by Leon Waidmann, head of research at Lisk, and come despite a brutal price decline that saw ETH lose over 30% in a month, trading near $1,620.
After Ethereum and Bitcoin, Tether (USDT) ranks third with 13.61 million holders, followed by XRP (7.8 million) and USDC (6.76 million). The staggering holder count highlights strong network adoption, yet the price pressure has been relentless. Nasdaq‑listed FG Nexus, which had made ETH its main treasury reserve asset, reportedly accumulated losses exceeding $85 million on its Ethereum strategy, forced to sell assets below purchase price.
On‑chain activity also shows a prominent whale known as “EthereumOG” stepping back in. After selling 60,000 ETH near $2,040 a week earlier, the same whale bought 35,723 ETH at an average of $1,563 – a $55.8 million bet on a potential reversal. The sharp sell‑off pushed Ethereum’s daily Relative Strength Index (RSI) to its lowest reading ever, a condition crypto analyst Michaël van de Poppe described as “extremely oversold,” potentially signaling the end of the bear market.
Meanwhile, spot Ethereum ETFs broke a 17‑day streak of outflows by recording $19.3 million in net inflows on June 4, driven entirely by ETHA, while the remaining nine funds saw no activity. For the week, though, total net outflows still stood at $168 million. SoSoValue noted that the latest figures may indicate stabilizing ETF flows, but a meaningful recovery will depend on sustained inflows across Ethereum and other major crypto assets.
