The number of new active addresses for Ethereum far surpassed that of Bitcoin this year.
Ethereum has seen the count of active addresses explode by almost 150% since the beginning of the year. Their addresses are also outpacing Bitcoin massively, despite increasing by 50% this year.
Ethereum overcomes BTC in new active addresses
According to data provided by the blockchain monitoring company Messari, the number of active Ethereum addresses this year increased 145%.
The graph illustrates some significant peaks. The first occurred in the days following the price drop in mid-March. At that time, the ETH token, after the growing threat of the COVID-19 pandemic, declined to its annual low below $ 100.
The second massive increase occurred in early June. This can be attributed to the sudden increase in the popularity of the decentralized financial sector. As Ethereum is the underlying technology in the DeFi field, it has led investors to create more active addresses to participate in the latest trend in the cryptocurrency landscape.
In addition, the number of Ethereum addresses with more than 0.1 ETH reached a new record in June. And non-zero Ethereum addresses have skyrocketed more than 350% since January 2018, when the asset’s price was at its highest level, at more than $ 1,400.
Bitcoin, on the other hand, performed more modestly, according to Messari data. However, despite having a much smaller number of new active addresses.
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ETH vs BTC
Another metric that Ethereum surpassed Bitcoin recently was the total volume of fees. Fees on the Ethereum network exploded at the time when several consecutive suspicious transactions occurred. A small South Korean cryptocurrency exchange on a 350.55 ETH transfer, received $ 5.2 million in fees.
Although rates on ETH’s blockchain have normalized after this unexpected spike, their volume is still higher than that of Bitcoin, as shown by Glassnode data. On July 8 alone, for example, Ethereum’s total volume fee totaled $ 875,000, while BTC’s indicated $ 445,000.