Ethereum Surpasses Bitcoin in Daily Transaction Volume

Ethereum Surpasses Bitcoin in Daily Transaction Volume

Ethereum, whose value is well below Bitcoin, still surpasses Bitcoin in its daily transaction volume. The interest of institutional investors in Ethereum‘s recent rise is shown as the reason.

Ethereum (ETH), which ranks second after Bitcoin in terms of market value; has recently become a more popular cryptocurrency than Bitcoin. ETH, whose value has increased by 10 percent in the last 24 hours to $ 1,340; surpasses Bitcoin in terms of daily trading volume.

When we look at the data, we see that Bitcoin, the world’s most valuable crypto currency; has a daily transaction volume of $ 9 billion. Ethereum, whose value is far below Bitcoin, has exceeded the $ 12 billion threshold in daily transaction volume. This makes Ethereum the most popular cryptocurrency, if not the most valuable.

The fact that ETH has become such a frequently traded cryptocurrency has put the value momentum ahead of Bitcoin. While Bitcoin has gained only 2 percent in the last week; The value of ETH has increased by 20 percent. Despite this, ETH still has not reached its all-time high.

The official launch and institutional adoption of Ethereum 2.0 are shown, causing Ethereum to gain in value and increase transaction volume so quickly. Grayscale, the world’s largest crypto asset manager, has increased its ETH asset to 2.9 million, the total value of these ETHs is around $ 3.6 billion.

Increasing interest of institutional investors to ETH causes the cryptocurrency to appreciate abnormally. So much so that ETH is the best performing unit among the three most popular cryptocurrencies. Although ETH is pleasing its investors with its increase in value, it still has not been able to surpass the peak of January 2018.