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ETH overtakes BTC in terms of new active addresses

Since the beginning of the year, the number of active Ethereum addresses has increased by almost 150%. The number of ETH addresses significantly exceeded the number of BTC addresses, despite their increase by 50%, since the beginning of the year.

Ethereum exceeds BTC in terms of new active addresses

According published data by blockchain monitoring company – Messari, since the beginning of the year, the number of active Ethereum addresses has increased by 145%.

The graph illustrates some significant increases. The first of these occurred in the days following the price drops in mid-March. During this time, the ETH token, due to the growing threat of COVID-19 pandemic, reached its lowest annual level below $ 100.

The second huge increase occurred at the beginning of June. This can be attributed to the sudden increase in the popularity of decentralized finances. Because Ethereum is the technology behind DeFi, this prompted investors to create more active addresses to be able to participate in the latest cryptocurrency trend.

In addition, in June, the new record also reached the number of addresses storing over 0.1 ETH. Since January 2018, when ETH cost $ 1,400, the number of wallets with more than 0 Ethereum has increased by 350%.

Bitcoin, according to data from Messari, achieved weaker results in this field. Nevertheless, despite a much lower number of new active addresses, they have increased by almost 50% since the beginning of 2020.

ETH vs. BTC

Recently, ETH has overtaken BTC also in terms of transaction fees. Charges on the Ethereum network increased significantly when several “strange transactions” took place. A small South Korean cryptocurrency exchange then transferred a total of 350.55 ETH, for which it paid about $ 5.2 million in commission.

As data from Glassnode show, despite the fact that Ethereum fees have already returned to normalcy, after this unexpected jump, their volume is still higher than BTC. Only on July 8, all Ethereum transfer fees were 875 thousand. dollars, while BTC commissions cost almost half as much ($ 445,000)

ETH overtakes BTC in terms of new active addresses 26

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