Ethereum surpasses Bitcoin in user activity

by in Cryptocurrency News

Ethereum Bitcoin

Transactional activity on Ethereum has confidently started to increase this summer. The expansion of the DeFi decentralized finance market has become a central driver of the network's growth.

Despite the fears of some skeptics, this ecosystem continues to evolve, attracting more and more users.

Ethereum is significantly ahead of Bitcoin in terms of the number of daily transactions. According to the Etherscan service, over the past 24 hours, the network processed 1.087 million transactions. During the same period, users made 316,415 transactions on the BTC blockchain.

At its peak on September 17, Ethereum processed over 1.4 million transactions. Recall that on this day, the UniSwap token was launched, which became the opening of the season.

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The CoinMetrics team drew attention to the fact that in September, the network processed at least 1 million transactions daily.

Weekly, the cost of Ethereum transactions significantly exceeds Bitcoin fees. Only in the second half of this month did ETH fees begin to decline. Now the price of one operation is about 110 Gwei ($ 0.78).

As a reminder, in mid-September, users were paying record-high fees to send funds. For example, UNI token holders had to pay up to $ 50 per transaction.

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On the bitcoin network, the average transaction processing fee is now $ 2.7.