According to a new report, in terms of transaction volume growth in the first half of this year, the world’s second largest crypto asset has made progress on Bitcoin.
Ethereum transaction volume According to a new report from Coinbase, the leading U.S. cryptocurrency exchange, the growth rate in the first half of this year surpassed that of Bitcoin.
Coinbase Institution H1 2021 Review ReportIt was released on July 26, acknowledging that the first half of this year was one of the most active periods of encryption on record, with prices, user adoption rates, and trading activities all hitting record highs.
The report shows from the data of 20 exchanges around the world that during this period, the transaction volume of Bitcoin reached 2.1 trillion U.S. dollars, an increase of 489% from the 356 billion U.S. dollars in the first half of last year.
Ethereum’s total transaction volume reached 1.4 trillion US dollars, but its growth rate was much faster, an increase of 1,461% from the 92 billion US dollars in the first half of 2020. Coinbase stated that this is the first time in history that the transaction speed of Ethereum has surpassed the duration of Bitcoin.
The study also measured the total market value of cryptocurrencies, which was 769 billion U.S. dollars at the beginning of the year, reached a peak of 2.4 trillion U.S. dollars in May, and was 1.4 trillion U.S. dollars at the end of the period, with a net income of 86% year-to-date.
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It pointed out that most of BTC’s earnings occurred in the fourth quarter of 2020 and the first quarter of 2021, after which the price of the encrypted asset fell in the second quarter of 2021. Its current trading price is down 38.8% from its historical high of $65,899 on April 13.
On the other hand, Ethereum achieved most of its gains in the second quarter of 2021, when its price doubled and reached an all-time high of $4,357 on May 12, but it has fallen back a deeper 47.4% to Current level.
The second most valuable crypto asset appreciated by 895% in the 12-month period and 210% in the six-month period ending June 30. Coinbase attributed this to many factors, including increased use of DeFi, investor optimism about proof transition-equity, and The rise of network layer 2 scaling solutions.
In January of this year, Cointelegraph predicted that Ethereum will become the main asset of investors in 2021According to CoinGecko’s data, BTC and ETH have both increased by 32.4% and 27.7% in the past week.
