The number of unique addresses holding a cryptocurrency is one of the most insightful metrics for assessing its adoption and community trust. A higher number of holder addresses generally indicates broader ownership, stronger consensus, and growing confidence in the asset. Based on network data, we’ve compiled the top 10 Proof-of-Work (PoW) cryptocurrencies by number of holder addresses — a valuable reference for miners and investors alike.
This ranking reflects the current state of decentralized ownership across major PoW networks, offering insights into which coins have achieved widespread distribution and user engagement.
👉 Discover which PoW coins are attracting the most holders in 2025.
1: Ethereum (ETH)
Ethereum leads the list as the PoW cryptocurrency with the highest number of holder addresses. Despite being set to transition to Proof-of-Stake (PoS) with Ethereum 2.0, ETH remains a dominant force in the blockchain ecosystem. Its robust smart contract functionality has enabled the creation of thousands of decentralized applications (dApps), particularly in the DeFi and NFT sectors.
Users hold ETH not just as an investment but as a utility token — it’s essential for paying gas fees when interacting with dApps, swapping tokens, or minting digital assets. This practical use case drives consistent demand and widespread ownership. The growing ecosystem continues to attract developers and users, contributing to the steady increase in active addresses.
However, once Ethereum fully transitions to PoS, it will no longer be classified as a PoW coin. Until then, it remains a cornerstone of the mining landscape.
2: Bitcoin (BTC)
Bitcoin holds the second position in holder address count and remains the most valuable cryptocurrency by market capitalization. As the first decentralized digital currency, BTC enjoys unmatched recognition and trust globally.
Unlike Ethereum, Bitcoin does not support complex smart contracts, limiting its primary use to peer-to-peer transactions and value storage — often referred to as “digital gold.” While this narrower functionality results in fewer active use cases compared to ETH, Bitcoin’s simplicity and security have made it the preferred long-term holding for many investors.
Its widespread adoption, institutional interest, and integration into financial systems continue to drive new address creation, reinforcing its position as a foundational asset in the crypto space.
3: Bitcoin SV (BSV)
Bitcoin SV emerged from a hard fork of Bitcoin Cash (BCH) in 2018, following a philosophical split between development teams. Led by Craig S. Wright’s Bitcoin Satoshi Vision group, BSV increased the block size limit to 128 MB in pursuit of massive scalability.
While BSV ranks third in holder address count among PoW coins, its market value lags significantly behind both BTC and BCH. The project emphasizes on-chain data storage and enterprise applications, but has faced criticism over centralization concerns and controversial leadership.
Despite these challenges, BSV maintains a notable presence in terms of address volume, partly due to promotional campaigns and low-cost transactions that encourage address creation.
4: Bitcoin Cash (BCH)
Bitcoin Cash originated from a 2017 hard fork of Bitcoin, driven by disagreements within the community about block size and scalability. Supporters of larger blocks — led by Bitcoin ABC — believed that increasing capacity was essential for Bitcoin to function as everyday money.
BCH increased the block size to 8 MB (later adjustable), enabling faster and cheaper transactions than BTC. This focus on payment utility helped BCH gain traction, especially in regions where low-cost remittances are crucial.
Today, BCH remains one of the top PoW cryptocurrencies by market cap and holder distribution, maintaining a strong developer community and merchant adoption network.
5: Dogecoin (DOGE)
Originally created as a meme-based parody, Dogecoin has evolved into one of the most recognizable cryptocurrencies worldwide — second only to Bitcoin in mainstream awareness.
Initially used as a fun way to tip content creators online, DOGE saw explosive growth in recent years thanks to endorsements from high-profile figures like Elon Musk and Mark Cuban. These influences contributed to a price surge and increased speculation.
While early adoption led to high address counts, recent trends show consolidation among large holders, with declining daily active addresses. Nevertheless, DOGE remains a cultural phenomenon and a popular choice for retail investors entering the crypto space.
6: Litecoin (LTC)
Often dubbed “silver to Bitcoin’s gold,” Litecoin was one of the earliest altcoins and remains one of the most widely used PoW cryptocurrencies. Created by Charlie Lee in 2011, LTC improves upon Bitcoin’s design with faster block generation (2.5 minutes) and the use of Scrypt hashing algorithm.
This algorithm makes mining more memory-intensive, theoretically promoting greater decentralization by discouraging ASIC dominance (though ASICs now exist for Scrypt).
LTC’s reliability, fast confirmations, and low fees have made it a favorite for everyday transactions and cross-border transfers.
👉 See how Litecoin compares to other top PoW coins in holder distribution.
7: Ethereum Classic (ETC)
Ethereum Classic emerged after the 2016 DAO hack, when the Ethereum community split over whether to reverse stolen funds via a hard fork. While most moved to the new chain (ETH), a minority chose to preserve the original blockchain’s immutability principle — thus creating ETC.
ETC continues to operate as a PoW network with a committed community focused on decentralization and censorship resistance. With Ethereum’s shift to PoS, ETC has become an attractive alternative for miners seeking compatible algorithms without abandoning PoW principles.
Its holder base remains solid, supported by ongoing development and increasing interest from displaced ETH miners.
8: Dash (DASH)
Dash is one of the most well-known privacy-focused cryptocurrencies. It offers optional anonymity through its CoinJoin implementation, which mixes transaction inputs to obscure sender and receiver details.
Originally launched as XCoin and later rebranded as Darkcoin before becoming Dash, it pioneered decentralized governance via masternodes — users who lock up 1,000 DASH to participate in voting and earn rewards.
Dash gained early traction in developing economies where financial privacy and fast payments are highly valued. It remains one of the most actively used anonymous coins by transaction volume.
9: DigiByte (DGB)
DigiByte is a fast, low-fee payment network built on a secure PoW blockchain. Inspired by Bitcoin, DGB supports multiple mining algorithms — including SHA-256, Scrypt, Skein, Qubit, and Groestl — enhancing resistance to centralization by allowing diverse hardware participation.
With block times as fast as 15 seconds, DGB enables rapid transactions suitable for point-of-sale systems and micro-payments. Its global community promotes it as a scalable digital currency for everyday use.
The multi-algorithm approach also contributes to a broad distribution of mining power and holder addresses.
10: Zcash (ZEC)
Zcash stands out as the first cryptocurrency to implement zero-knowledge proofs (zk-SNARKs), offering strong privacy guarantees. Users can choose shielded transactions where sender, recipient, and amount are encrypted — visible only to those with decryption keys.
This advanced cryptography makes ZEC one of the most secure options for private financial interactions. The technology has been influential beyond Zcash itself, even inspiring privacy enhancements in Ethereum’s scaling solutions.
Despite regulatory scrutiny around privacy coins, ZEC maintains a dedicated user base that values financial confidentiality.
Key Considerations Beyond Holder Count
While the number of holder addresses provides valuable insight into distribution and popularity, it should not be viewed in isolation. Other critical metrics include:
- Whale concentration: High address counts can be misleading if most supply is held by few entities.
- Active vs. dormant addresses: Not all addresses reflect real-world usage.
- Transaction volume and frequency: Indicate actual economic activity.
- Network security and decentralization: Essential for long-term sustainability.
Miners should evaluate these factors alongside profitability when choosing which PoW coin to support. Tools like smart mining pools can help optimize returns by automatically switching to the most profitable coin based on real-time conditions.
👉 Maximize your mining returns with intelligent PoW coin selection tools.
Frequently Asked Questions
Q: Why is Ethereum still considered PoW if it’s moving to PoS?
A: Ethereum operated under PoW until mid-2022. Historical data up to that point reflects its status as a PoW network. After The Merge, new ETH issuance shifted to PoS.
Q: Does more holder addresses mean a better investment?
A: Not necessarily. High address count suggests adoption, but you should also assess token distribution, utility, development activity, and market trends before investing.
Q: Can inactive wallets inflate holder address numbers?
A: Yes. Many addresses may be dormant or used only once. Analysts often combine address count with active address metrics for accuracy.
Q: Will ETC benefit from Ethereum’s move to PoS?
A: Potentially. Some ETH miners have redirected their hashrate to ETC due to algorithm compatibility, boosting its network security and visibility.
Q: Are privacy coins like ZEC and DASH safe to use?
A: They are technically secure, but some exchanges delist privacy coins due to regulatory concerns. Always check local compliance rules.
Q: How often should I review holder address trends?
A: Monthly or quarterly reviews are sufficient for long-term investors. Traders may monitor weekly changes for early signals of shifting sentiment.
Core Keywords: PoW cryptocurrencies, holder address count, Ethereum Classic, Litecoin mining, Dogecoin adoption, Zcash privacy, Bitcoin Cash scalability, Dash anonymity.