A Santiment report confirms that XRP boasts up to 5.24 million wallets with non-zero balances, while Shiba Inu currently sees 1.39 million.
Santiment, a renowned market intelligence platform, recently released a 10-year analysis of notable altcoins and their respective non-empty wallets. The analysis highlighted the significant user base of XRP and SHIB, showcasing their market positions.
📊 Below is the 10-year chart of notable altcoins and the amount of non-empty wallets (hodlers) on their respective networks:
Litecoin: 8.08M Wallets
Dogecoin: 6.69M Wallets
XRP Ledger: 5.24M Wallets
Cardano: 4.48M Wallets
Shiba Inu: 1.39M Wallets
Chainlink: 722K Wallets pic.twitter.com/BiF97RBJmz— Santiment (@santimentfeed) July 24, 2024
XRP Ledger (XRP) Shows Steady Growth
According to Santiment, XRP boasts 5.24 million non-empty wallets, indicating a substantial and established user base. This places XRP in the mid-range among the compared assets.
As seen on Santiments chart, XRP has shown a steady increase in the number of holders over the years. Despite facing regulatory challenges, XRP continues to maintain investor trust and market confidence.
Recall that the number of XRP wallets holding a balance greater than 0 XRP skyrocketed over 20% in January this year, reaching 4.95 million. The increase of around 340,000 non-empty wallets reflects the growing interest in the XRP network.
Shiba Inu (SHIB) Community Continues to Grow
Meanwhile, Shiba Inu boasts 1.39 million non-empty wallets. However, this number is relatively smaller compared to other altcoins like Litecoin and Dogecoin, suggesting that SHIB is still in a growing phase. Shiba Inu is also much younger than these assets.
The number of SHIB holders has also shown a gradual increase over the years. Despite being a meme coin, SHIB has managed to garner a loyal following, placing it above Chainlink but below Dogecoin and Litecoin. This positioning indicates that while SHIB has a solid community, it is still developing compared to more established coins.
Litecoin and Dogecoin Dominate
Meanwhile, Santiment’s data show that Litecoin is leading the list with 8.08 million non-empty wallets, the highest among the compared assets. This consistent growth reflects stronger investor confidence. The figure is also due to Litecoin’s position as the oldest asset on the list, having launched in 2011.
Dogecoin follows with 6.69 million non-empty wallets. Driven by social media hype and celebrity endorsements, Dogecoin’s wallet numbers have seen significant growth.
Elsewhere, Chainlink has shown growth but at a slower rate compared to the other assets. Chainlink has 722,000 non-empty wallets, the lowest among these assets despite being launched in 2017, three years before Shiba Inu.
Activity of SHIB and XRP Non-empty Addresses
Examining the active addresses provides further insight into the engagement levels of these non-empty wallets. The following chart by Santiment highlights the contrasting behaviors of wallet addresses for SHIB and XRP, with Shiba Inu showing less user activity.
As of July 24, 2024, SHIB has 21,799 active addresses. Notably, SHIB experienced a significant spike in active addresses around early March 2024, reaching approximately 152,000 active addresses.
However, despite having a significant number of non-empty wallets, the number of active addresses indicates that a large portion of these wallets may not be consistently active.
Meanwhile, XRP currently has 95,273 active addresses. Compared to SHIB, XRP exhibits a more consistent level of active addresses, ranging between 60,000 to 160,000. This suggests that a larger portion of XRP holders are actively engaging with the network.
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