Forex and Crypto News

Ethereum overtook Bitcoin by the number of active addresses

12:09 26 June /2020

Santiment presented a report on the growth of trading volumes and active addresses of the main altcoins. Ethereum became the leader in growth among altcoins.

Ethereum shows growth in trading volumes and active addresses. According to Santiment, from March 27, 2020, the growth in Ethereum’s daily transactional throughput was more than 20,000%. The same indicator inside the Bitcoin blockchain has grown by 17,500%.

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Source: Santiment

Also, according to Santiment, in the Ethereum network, the number of active addresses that carry out operations daily has grown by about 20,000% over the same period. Bitcoin is significantly inferior to Ethereum in this indicator. Such indicators inspire optimism in Ethereum. This gives hope that the price of Ethereum can continue to grow.

But as we see on the chart, the growth in trading volumes and active addresses of the TOP 100 altcoins combined still exceeds the indicators of Ethereum and Bitcoin. The graph shows that the TOP-100 altcoins except Ethereum have a large bandwidth. Meanwhile, the limited supply of these altcoins ensures that prices will continue to grow as long as the dynamics of growth in trade volumes and active addresses remain.

It is also worth noting that for three months the price of Ethereum increased by almost 67%, which makes Ethereum one of the most profitable assets for this period. The growth is due in part to the increased use of Ethereum in stable coin and decentralized financing (DeFi) projects.

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Now the cost of almost 80% stablecoins is calculated based on Ethereum. And the number of transactions with stablecoins will reach 530 billion by the end of this year.

However, the fact that DeFi projects blocked Ethereum for about $3.1 million suggests that the number of investors seeking to use ETH for profitability is growing.

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According to Santiment, in August, ICO startups sold only 100,000 ETH. In September, sales of digital currency increased significantly, reaching 300 thousand ETH. In Nov

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