ETH's Transaction Volume Grows Much Faster Than BTC's in the First Half of 2021

 



According to a new report, the world's second-largest crypto asset grew in trading volume in the first half of this year.

The trading volume of Ethereum grew faster than that of Bitcoin in the first half of this year according to a new report from leading US crypto exchange Coinbase.

Coinbase Foundation H1 2021 Review Report, released on July 26, acknowledges that the first half of the year has been one of the most positive periods on record for crypto, with some highs. All-time new in terms of pricing, user adoption, and active trading.

Taking data from 20 exchanges globally, the report revealed that Bitcoin trading volume reached $2.1 trillion during the period, a 489% increase from $356 billion in the first half of last year.

Ethereum's total trading volume reached $1.4 trillion, but its growth rate was much faster, up 1.461% from $92 billion in the first half of 2020. Coinbase commented that this is the time period. first maintain that the transaction speed of Ethereum exceeds that of Bitcoin.

The study also measures total crypto market capitalization, which started the year at $769 billion, peaked at $2.4 trillion in May, and ended the period at $1.4 trillion, recorded a net increase of 86% to date.


It noted that most of BTC’s gains came during Q4 2020 and Q1 2021, before the crypto asset price dropped in Q2 2021. It is currently trading down 38.8% from levels. April 13 all-time high is $65,899.

Ethereum, on the other hand, saw the bulk of its gains in Q2 2021 as it doubled in price to hit an all-time high of $4,357 on May 12, however it dipped 47 deeper. .4% from current levels.

The second most valuable crypto asset increased by 895% in the 12-month period and 210% in the 6-month period ending June 30. Coinbase attributes a number of factors to this including the increased use of DeFi, investor optimism in the transition to proof-of-stake, and the rise of layer two scaling solutions for the network.



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