This is how Bitcoin and Ethereum are competing

The exciting world of cryptocurrencies continues to evolve, making it clear that there is so much life beyond Bitcoin.

Ether surpassed Bitcoin in the total number of transactions last week, for the first time in history. You had more daily active addresses (the number of active participants, both senders and receivers of transactions).

Although it may seem like a trivial anecdote, this growing number of active Ether addresses is a sign of how the token is growing in popularity.

The fact is that it is not only a growth of Ethereum, there is also a fall of Bitcoin. They indicate in BitInfoCharts :

On April 15, 2021, Bitcoin had 1.14 million active addresses. As of June 27, it had just 462,800 addresses.

We already know that on those same dates Bitcoin has had a huge variation in its value, so everything is related. The drop in the number of active Bitcoin addresses could mean that people are quickly selling their digital assets.

Ether, on the other hand, had a little over 751,000 addresses on April 15. As of June 28, their numbers had risen to more than 926,900 addresses, when Bitcoin was at approximately 618,900 addresses.

Ether or Ethereum
Ethereum

The price of Ether is also not very stable, and the active directions keep moving. On July 3, Bitcoin was back at the top with roughly 823,287 active addresses, well above the 683,608 Ethereum users.

The news about the blockages of Bitcoin in China, the open doors in El Salvador, the tweets of Elon Musk and the fact that it is accepted as a means of payment in Tesla… each news is a blow, for better or for worse, in the world of cryptocurrencies, a world that will never disappear, although it will take time to be something usable on a day-to-day basis (mainly due to the limit of daily transactions that can be carried out).

Leave a Reply

Your email address will not be published.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