The number of active Stellar wallets in existence breached the figure of two million this week, barely four months after the Stellar network had achieved the highly symbolic figure of one million in July.
The figures, provided by Stellar statistics compilation platform Stellar.expert, also demonstrate that the current number of wallets has been experiencing exponential growth since January 1, 2018 when that same number stood at just under 250,000.
The most likely explanation for the Stellar network’s phenomenal growth in recent weeks will be the $125 million dollar give-away of XLM organised by the Stellar Foundation in partnership with Blockchain.com in early November in what qualifies as the one of the most expensive and ambitious marketing moves yet seen within the crypto space.
As of the end of October, 2018, there were thought to be 28 million crypto wallets in existence, according to Statistica, and of these around 22 million are thought to be Bitcoin wallets, according to Bitcoin Market Journal.
These numbers imply that Stellar wallets now represent one quarter of all non-Bitcoin wallets, similar to the number of Ethereum wallets with non-zero balances.
Whilst the number of wallets associated with any given cryptocurrency gives little to no indication of general adoption / usage of the underlying technology, it does nonetheless indicate general visibility of the project, and may help to explain Stellar’s comparatively better performance in relation to other leading alt-coins over the course of the previous two weeks in which just over $50 billion USD was wiped from the collective value of the crypto markets.