Measuring Ethereum adoption
Despite the exponential growth of DeFi over the past year, we’re still early in the on-chain adoption cycle—DeFi users only represent around 2.3% of total unique Ethereum addresses.
Feb 14th 2022
Source: Etherscan, Dune Analytics
The total number of unique addresses on Ethereum is currently 188 million. However, because an individual can create as many addresses as they want, this number is significantly flawed as a measure of Ethereum adoption.