On the Ethereum network, 15 million addresses hold cryptos for $1 to $10. That is almost twice as much as on the Bitcoin blockchain, according to a report from the CoinMetrics team.
Researchers found that 7.55 million addresses currently hold cryptos in the BTC network for up to $ 10. Besides, Ethereum has already surpassed Bitcoin in the number of processed transactions.
Messari analysts presented data from which it follows that this year the total amount of transactions on the ETH blockchain will exceed $ 1 trillion, which will also be significantly higher than the transactional indicators of bitcoin.
Ethereum activity is on the rise despite record-high fees. Analysts attribute its strengthening to the growth of the decentralized financing market DeFi.
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Another driver is the growth in the supply of stablecoins Tether and USDC.
Analyst Ryan Watkins tweeted that decentralized cryptocurrency exchanges have made a significant contribution to the development of the ETH ecosystem.
🤯 Ethereum now transacts two times more value than Bitcoin daily.
— Ryan Watkins (@RyanWatkins_) October 21, 2020
This is what a cryptoeconomy looks like when it starts to find product-market fit.
1/ pic.twitter.com/mjXJkZTddU
For example, the UniSwap and Curve platforms processed more than $ 20 billion in transactions in September. Currently, decentralized exchanges occupy 13.65% of the crypto market, and this share will grow.