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.
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.

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