Ether overtook Bitcoin for the first time in terms of transactions. Ether’s transactions last week surpassed those of bitcoin. Ether recorded more daily active addresses, which are the number of active participants in the transfer of cryptocurrencies, than bitcoin. This included both the sender and the receiver. The increasing number of active addresses reflects the pace at which this digital coin is progressing. However, bitcoin soon bridged this gap as well.
Crypto analyst company Santiment said in a tweet that the world’s second largest cryptocurrency has created history. Ether sets a new record by surpassing Bitcoin in Daily Active Addresses.
The data available on BitInfoCharts gives more information about this. Now consider these figures to find out the decreasing active addresses of bitcoins. Bitcoin had 1.14 million active addresses as of 15 April 2021. On June 27, it closed at just over 462,800 active addresses.
According to historical data from Coinbase, the price of bitcoin in India went from Rs 47.2 lakh per bitcoin (very close to its peak) to Rs 23.9 lakh per bitcoin on the same dates. Or rather, in 2021, the lowest level price of bitcoin was seen.
On the other hand, Ether had more than 751,000 active addresses as of 15 April. Its number increased to over 926,900 on 28 June when bitcoin was only at 618,900. A drop in the number of active addresses for bitcoin could mean that people are selling their digital assets at a record pace.
The rupee price of Ether was at its peak in the month of May. After that according to Coinbase data it went up to 3.2 lakhs per token on 12th May. On 15th April, Ether was trading at 1.82 Lakhs and on 28th June it was trading at 1.47 Lakhs.
Now the only question in the minds of many people was whether Ethereum would keep the momentum. Well, the answer is no. On July 3, Bitcoin was at the top again and Ethereum had approximately 823,287 active addresses for approximately 683,608 users.
The price of the biggest cryptocurrency was trading at Rs 25.6 lakh on July 5 after a fall of 2.17%. Ethereum, on the other hand, was trading at Rs 1.69 lakh after a fall of .21% in the last 24 hours. While the current market cap of Bitcoin is around $642.54 billion, which is almost three times that of Ethereum at $265.38 billion.