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ETH 
LINK 
XRP While the market is sideways, the number of holders of XRP, Ethereum, Chainlink and USDC reaches record highs
The cryptocurrency market may be in a sideways consolidation stage, but blockchain adoption presents a completely different picture. According to data from Sanitation Intelligence, a leading on-chain analytics platform, the number of non-empty wallets is steadily rising on several of the industry's largest networks, indicating that user engagement continues despite flat price trends.
In the past two weeks, Ethereum has reached an important milestone-the number of non-empty wallets exceeded 200 million for the first time. During the same period, the XRP ledger and USDC on Ethereum each had more than 8 million fund addresses, while Chainlink's non-empty wallets also exceeded 900,000.
Although a single wallet does not necessarily represent a single user, the growth of non-empty wallets is still one of the clearest indicators of long-term network adoption. It reflects addresses that are still holding assets, interacting with decentralized applications, or participating in the blockchain ecosystem, indicating that users are accumulating and remaining active, rather than choosing to leave when markets are cold.
Ethereum's latest milestone further consolidates its dominant position as the world's leading smart contract platform. It remains the foundation for decentralized finance, stablecoins, tokenized real-world assets, NFTs and the growing number of enterprise-level blockchain applications. Even without a major price rebound, developers, institutions and retail users are continuing to expand their activities online.
Holder Growth: Stronger Fundamental Signals Beyond Price Volatility
The increase in the number of USDC holders reflects the accelerated adoption of regulated stablecoins. As Circle expands its banking relationships, custody network, payment infrastructure and global distribution channels, USDC has become one of the most widely used digital dollars in the cross-border payments, settlement and DeFi space. More and more wallets are holding the stablecoin for daily practicality rather than short-term speculative purposes.
The XRP ledger followed closely. The increase in the number of holders is consistent with the expansion of application scenarios such as cross-border payments, tokenization, decentralized finance and enterprise-level blockchain solutions. This momentum was further boosted this week with the launch of Hong Kong's first licensed retail XRP trading platform, which provides retail investors with regulated XRP trading channels while reinforcing Hong Kong's ambition to become Asia's leading digital asset center.
In addition to the payment field, the XRP ledger ecosystem continues to diversify. Recent developments include: tokenized shares in companies such as Tesla, Nvidia and SpaceX; AI-driven payment infrastructure built around XRP and RLUSD;Mastercard integration; and a new developer funding program designed to accelerate ecosystem growth.
Chainlink is also attracting a growing number of long-term holders, and its decentralized oracle network is becoming increasingly indispensable in tokenization, cross-chain interoperability and institutional-level blockchain adoption. As more projects rely on Chainlink's infrastructure, demand for LINK is being driven by practical utility rather than mere transactions.
Sanitation's latest data paints a clear picture: Despite relatively flat prices, the fundamentals of the cryptocurrency market continue to strengthen. As a result, the rise in the number of holders on Ethereum, XRP ledgers, USDC and Chainlink points to broader adoption, deeper practical utility, and a steadily growing user base, which is expected to lay the foundation for the next major growth cycle in the market.
