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Half Of ETH Transactions Now Cost Less Than $20: Report

05/08/2020
half of ETH transactions

According to new research, half of ETH transactions now cost less than $20 as the Ethereum holders are spending less. The data that we have in our ETH news, shows that 58% of Ethereum transactions are now less than $20 while 20% of Bitcoin transactions are worth more than $900.

About 40% of all transactions for stablecoins were between $100 and $1,000 and according to the new research, more than half of ETH transactions are worth less than $20 and about 80% of transactions made are under $90. The data compiled by Alex Svanevik, a data scientist and co-founder of D5 which is a decentralized autonomous organization for data science, believes that the Bitcoin holders are more willing to spend big on their transactions rather than the ETH holders.

This only shows how people actually use Ethereum. The ETH network is a very popular choice for decentralized applications. Svanevik believes that this could be also because Ethereum is a popular hub for mining pools, exchanges, and gambling apps. Bitcoin is mostly used for payments and people are willing to place bigger trades. According to his research, more than 20% of Bitcoin transactions are now worth more than $900.

The data suggest that for Bitcoin and Ethereum, smaller traders are more popular than they used to be. For stablecoins which are tied to a fiat currency, 40% of all transactions for stablecoins were between $100 and $1000. For Tether, that figure increased by 45% which is the highest amount for stablecoins. for the PAX stablecoin, 31% of the trades were between $100 and $1000, 27% for USDC, 23% for DAI. The amount of tether however, is expected to go through the roof.

As per the Ethereum price news, the price of Ethereum is currently struggling to gain bullish momentum above the $210 and $220 resistance level. It recently breached the $200 mark, surged even more, but corrected a week ago to this region slightly above $200. As of recently, the ETH price made another attempt to surpass the $211 resistance level against the US dollar but failed in it. The ETH scaling and gas-free transactions already arrived on the market. The network is also growing more popular and the number of active wallets has more than doubled since January, to around half a million.

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