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Flipped: Ethereum now processes 28% extra transactions than Bitcoin

01/19/2021

flipped:-ethereum-now-processes-28%-more-transactions-than-bitcoin

Messari estimates Ethereum’s each day transaction quantity is now 28% better than Bitcoin’s.

The each day quantity of transactions on the Ethereum (ETH) community is now 28% better than on Bitcoin (BTC), in accordance with crypto analytics agency Messari.

On Jan. 19, Messari’s Ryan Watkins tweeted that Ethereum’s each day transaction quantity “goes parabolic” alongside a chart indicating that Ethereum and Ethereum-powered stablecoins have processed $12.3 billion in transactions over the previous 24 hours — dwarfing Bitcoin and Omni-based USDT’s $9.3 billion.

The info excludes non-stablecoin ERC-20 transactions for Ethereum to keep away from double-counting DEX volumes.

In keeping with Blockchain Middle’s “Flippening Index,” which makes use of eight key metrics to trace whether or not the Ethereum community has surpassed Bitcoin in measurement and exercise, Ethereum is 63.5% of the way in which to having flipped Bitcoin. 

Whereas Blockchain Middle’s knowledge suggests Ethereum is but to beat out Bitcoin’s transaction quantity, the Flippening Index notes Ethereum is already beating Bitcoin by transaction rely and complete transaction charges. 

The info additionally has Ethereum’s node rely at 94% after briefly flipping Bitcoin a number of instances in current months, and estimates Ethereum’s commerce quantity is the same as 57% of Bitcoin’s after bouncing off a document excessive of 76% final week.

The Flippening Index: Blockchain Middle

Regardless of momentum constructing for Ethereum, the index exhibits Google search quantity is simply 14% in comparison with Bitcoin, and Ether’s market cap to be simply 21% of Bitcoin’s. Nonetheless, Messari estimates all the Ethereum ecosystem to be price $212 billion — equal to 31% of Bitcoin’s market cap.

Polkadot, the brain-child of Ethereum co-founder Gavin Wooden, accomplished its personal flippening final week to overhaul Ripple’s XRP and rank because the third-largest non-stablecoin crypto asset by capitalization behind Ethereum.

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