Ethereum seems to have expanded its cost advantage on Bitcoin by approximately 10 times, and Bitcoin currently ranks only sixth in the weekly expenses incurred.
According to CryptoFees data on July 18, the Bitcoin network has generate The average daily cost for the past 7 days was US$725.7 million, while the cost for that day was less than US$400,000.
So far, Ethereum is at the top of the list, generating an average of more than 6.1 million U.S. dollars in daily expenses per week and more than 5 million U.S. dollars in expenses per day. As a result, the daily cost of Ethereum was 8.4 times higher than that of Bitcoin in the past week, and was more than 15 times higher on July 18.
Uniswap V3 ranked second with an average daily cost of 1.5 million USD, followed by Binance Smart Chain at 1.2 million USD, Uniswap V2 at 732,000 USD, Aave at 728,000 USD, and then Bitcoin.
Twitter user “odin free” posted the results of a survey on Twitter, comparing the network strength of Ethereum relative to Bitcoin to Facebook’s dominance over Myspace in the late 2000s.
The fundamentals of BTC in absolute free fall.
The 7th cryptocurrency is flipping $Bitcoin. Fees are important, it shows that people are willing to pay $ eth, Which provides security.
It is becoming increasingly clear that BTC has nothing to do with the booming web3 ecosystem.
This is the flip of Facebook/Myspace pic.twitter.com/XBDV2qu0er
-Odin free (@odin_free) July 19, 2021
Bitcoin’s fee ranking fell because of Ethereum is about to upgrade in London It has sparked new speculation as to whether the leading crypto assets by market value will be flipped during the launch of Eth2.
related: Celsius CEO said that Ether has “flipped” Bitcoin
On July 14, cryptocurrency analyst Rack Davis published data on Twitter that the daily on-chain settlement value of Ethereum is three times that of Bitcoin.Davis famous The increasing popularity of Ethereum’s second-tier scaling solutions may increase the difference.
“I highly doubt that since we have a second-tier online like optimism, this gap will widen,” he said.
Ethereum also roughly beat Bitcoin by total transaction volume 500%, And briefly ahead of Bitcoin in terms of transaction volume, Trading volume, And the number of nodes in recent months.