Number Of Active Ethereum Wallets Now Surpasses Bitcoin, Data Showa – Benzinga – Benzinga

https://www.benzinga.com/markets/cryptocurrency/21/07/21824042/number-of-active-ethereum-wallets-now-surpasses-bitcoin-data-showa


0

The number of active addresses (wallets) on the Ethereum (CRYPTO: ETH) blockchain now exceeds the number of active Bitcoin (CRYPTO: BTC) addresses.

What Happened: According to BitInfochart data, the number of active addresses on Bitcoin’s blockchain crashed by about 60% over the past six weeks, from 1.3 million to roughly 500,000.

Ethereum data, on the other hand, shows that the network saw over 200,000 more active wallets than Bitcoin on June 27: Bitcoin had over 462,000 active addresses while Ethereum had over 689,000, over 49% more.

What It Means: Active addresses included on BitInfoCharts are addresses that sent or received at least one transaction on the blockchain on any given day.

In late June, Bitcoin’s active addresses have fallen to their lowest level since February.

Ethereum’s active addresses, on the other hand, increased by more than 9% over the past week and reached 700,000, but are still significantly down from their early March peak of 1.1 million.

Why It Matters: According to BlockchainCenter data, Ethereum also processes 6.61 times more transactions than Bitcoin, but the value of those transactions is currently equivalent to only over 91% of Bitcoin’s — down from a peak of over 227% reported in May.

Read also: Ethereum 2.0 Could Launch A $40B Staking Industry By 2025 Says JPMorgan

Ethereum also purportedly has 70.4% of Bitcoin’s trading volume, down from May’s peak of 118%.

Lastly, Ethereum’s miners enjoy a transaction fee spending that’s estimated to be 4.6 times higher than Bitcoin’s, down from 19.9 times in May.

Price Action: The leading cryptocurrency was trading at $33,356 at press time, losing a.17% overnight, while Ethereum stood at $2,063, down 3.38%.


Like it? Share with your friends!

0

0 Comments

Your email address will not be published. Required fields are marked *

Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Poll
Voting to make decisions or determine opinions
Story
Formatted Text with Embeds and Visuals
List
The Classic Internet Listicles
Countdown
The Classic Internet Countdowns
Open List
Submit your own item and vote up for the best submission
Ranked List
Upvote or downvote to decide the best list item
Meme
Upload your own images to make custom memes
Video
Youtube, Vimeo or Vine Embeds
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format