Friday, September 25, 2020
No menu items!
  • News
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Contact Us
More

    Ethereum Unique Addresses Created Now Surpasses Bitcoin’s as ETH 2.0 Launch Approaches

    Must Read

    XRP Ledger Foundation Officially Launched

    According to a latest information, XRP Ledger Foundation has been launched officially. This update was shared via the official Twitter...

    Chainlink (LINK) Now Available To Users in Over 2.2M Hotels and Homes

    In a tweet shared on 23rd September 2020, Travala.com, a crypto-friendly traveling booking service, informed the cryptocurrency community about...

    Ethereum 2.0: User Outlines Why He Would Not Stake ETH at Launch, Danny Ryan Weighs In

    There have been concerns over the risks of staking the digital token ETH on Ethereum 2.0 at launch. In...
    Avatar
    Solomon Odunayo
    Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.




    As a recent data has it, Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has surpassed the leading cryptocurrency, Bitcoin (BTC), in terms of unique addresses created, as the much-awaited Ethereum network upgrade approaches.

    The data was shared a couple of hours ago via the official Twitter handle of intotheblock, a blockchain analytics channel. This is quite a major milestone that the Ethereum community will happily welcome.

    According to the report captioned with a chart as proof, ETH now has a total number of 39.96 million active addresses, while Bitcoin (BTC) addresses stay at 30.1 million. This implies that Ethereum now leads Bitcoin by 9.86 million addresses.

    “Strong community. With Ethereum making strides towards launching Ethereum 2.0, the total number of addresses holding ETH (39.96 million) has surpassed those holding Bitcoin (30.1 million),” intotheblock reported.

    What Could Have Aided the Notable Increase?

    One of the reasons that could easily be considered as the cause of the significant rise in Ethereum addresses is the increase in demand. The launch of ETH 2.0 is fast approaching, which could be prompting investors to keep accumulating. And this has hugely reflected on the price of ETH in the market year-to-date.

    In total number of addresses, Ethereum significantly beats Bitcoin (BTC), but the reverse is the case when considering price increase momentum since the duos recorded their price all-time high. BTC is about 50% away from its ATH, unlike ETH that is over 100% away from its ATH.

    However, some crypto analysts expect Ethereum to experience an increase above $300 as the community welcomes Ethereum 2.0. At press time, ETH is trading at $243.39, with a 0.39% price downtrend in the last 24 hours.

    The Reason Ethereum (ETH) Network Upgrade Is Needed Now

    In the past few days, there has been a notable increase in ETH network fees, enriching Ethereum miners in the process, which makes it more evident that the upgrade is needed now. The upgrade is expected to enhance the scalability of the Ethereum network.

    According to glassnode, a channel that provides on-chain data analysis, the daily Ethereum network fees exceeded Bitcoin (BTC) fees some hours ago.

    “Daily Ethereum network fees surpassed Bitcoin fees yesterday. Ethereum fees: $498k Bitcoin fees: $308k. So far, this has only happened on 141 days (8%),” glassnode reported.




    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Latest News

    XRP Ledger Foundation Officially Launched

    According to a latest information, XRP Ledger Foundation has been launched officially. This update was shared via the official Twitter...

    Chainlink (LINK) Now Available To Users in Over 2.2M Hotels and Homes

    In a tweet shared on 23rd September 2020, Travala.com, a crypto-friendly traveling booking service, informed the cryptocurrency community about the integration of Chainlink (LINK)...

    Ethereum 2.0: User Outlines Why He Would Not Stake ETH at Launch, Danny Ryan Weighs In

    There have been concerns over the risks of staking the digital token ETH on Ethereum 2.0 at launch. In this regard, a supposed Ethereum...

    New Version of VeChain Thor Released with a Major Improvement

    As a report has it, v1.3.6, the updated version of the popular software in the VeChain ecosystem, VeChain Thor, has been released with a...

    Venture Capitalist Tim Draper Reveals He Holds Bitcoin (BTC), Ripple XRP, Tezos (XTZ)

    Venture capitalist and Bitcoin optimist, Tim Draper, who is the founder of Draper University, has recently revealed his cryptocurrency portfolio, which includes Bitcoin (BTC),...

    More Articles Like This