Ethereum Overtook Bitcoin in Terms of Total Transaction Volume in 2022.
Last year, the Ethereum network outperformed Bitcoin in terms of total transaction volume, but the king of cryptocurrencies still holds the top spot when it comes to online search interest. In accordance with information from Nasdaq and Ycharts posted on Reddit on Jan. 2. Compared to Bitcoin transactions, Ether transactions (408.5 million) were 338 percent more prevalent in 2022. The values shown in the chart are in millions of transactions, with the average daily transactions at around 1.1 million for ETH and 255,000 for BTC.
However, compared to Ethereum, which saw much greater transaction volume volatility, the volume of transactions on the Bitcoin network was more regular and stable. This was brought on by demand spikes at particular times, such as NFT launches and other gas-guzzling events like XEN minting. Ethereum’s heftier transaction volumes have continued into the new year, with the Ethereum transaction count on Jan. 2 reaching 924,614, a 300% increase compared to Bitcoin’s 229,191 on the same day, according to Bitinfocharts.
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Source: www.pipsafe.com – Ethereum Overtook Bitcoin
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