Bitcoin loses to Ethereum in daily value transfers
Ethereum is now more popular in terms of movement
Ever since the blockchain technology, along with the first cryptocurrency, BTC, was introduced to the digital world, it has been leading the scene not only in price, but also in transaction volume. Ethereum was one of the first cryptocurrencies introduced to the market after BTC, and, since then, has been climbing gradually and steadily gaining significant preference in the cryptocurrency industry. The time has come in which Ethereum has reached the same level of BTC in one more metric, the daily average transaction value.
According to a firm dedicated to analyzing the blockchain, Messari, there has been ongoing close competition in the daily value transfer. This metric represents the total value of assets moved on a daily basis in the blockchain, which, as of April 12, was close to $1.5 billion. That same day, Ethereum started reporting similar daily transfers value, which includes other values transferred in its blockchain, like Ether and other stablecoins like Tether.
While the value of Ethereum keeps soaring, the BTC network struggles to keep up past figures for daily transfer values that were once up to $3 billion back in July 2019. As the second-largest cryptocurrency, Ethereum has risen from $115 million in daily transactions volume in December 2018 to an impressive $1.5 billion today. Back in January, the BTC network saw some increase in its daily transfer value, but it has slowed down since March.
In the past, Ethereum has been able to defeat BTC in another metric, the network’s transaction per second. This measure once peaked 4.7 during BTC’s all-time high, but this year has been decreasing since the March 12 downturn, and the number is currently at three transactions per second. Ethereum, on the other hand, peaked at 15 transactions per second once, and now the average is nine.