Ethereum Surpasses 200M Wallets as Analyst Sees Potential for ETH Outperformance

Ethereum's user adoption has reached a major milestone with over 200 million non-empty wallets, reflecting active usage on the network. According to Lucky Luciano, this figure is significant as it represents people who are actually using Ethereum for various purposes such as holding ETH, sending stablecoins, and building blockchain applications.

The growth in user adoption comes at a time when many traders are watching the Ethereum price daily. However, wallet growth tells a different story, indicating that more people continue to use Ethereum despite market fluctuations.

Market analyst Dan Tapiero believes that Ethereum could outperform Bitcoin if the ETH/BTC trend continues. He suggests that another 10% move in the ETH/BTC ratio could open the door for a much bigger rally, with the chance of another 50% gain.

The Glamsterdam upgrade is also expected to improve speed, fees, and network capacity when it reaches the mainnet later this year, likely between September and October. This upgrade will introduce Proposer-Builder Separation (PBS) and Block-Level Access Lists, allowing for more decentralized block building and increased transaction processing capacity.