{"id":281390,"date":"2021-01-19T09:14:42","date_gmt":"2021-01-19T14:14:42","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=281390"},"modified":"2021-01-19T09:14:42","modified_gmt":"2021-01-19T14:14:42","slug":"messari-shows-ethereum-transactions-being-28-more-than-bitcoin","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/messari-shows-ethereum-transactions-being-28-more-than-bitcoin","title":{"rendered":"Messari Shows Ethereum Transactions Being 28% More Than Bitcoin"},"content":{"rendered":"<p>Messari, the crypto analytics firm, revealed on the 19th of January, 2020, something quite interesting: The <a href=\"https:\/\/insidebitcoins.com\/buy-ethereum\">Ethereum<\/a> network now boasts 28% more transactions than <a href=\"https:\/\/insidebitcoins.com\/buy-cryptocurrency\/buy-bitcoin\">Bitcoin<\/a>.<\/p>\n<h2>Ethereum Reaching Parabolic Growth: Ryan Watkins<\/h2>\n<p>This news was revealed by Ryan Watkins of Messari, who tweeted how the daily transaction volume of Ethereum was reaching parabolic levels of growth.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Ethereum&#39;s daily transaction volume is going parabolic. <\/p>\n<p>It now settles $12 billion in transactions daily &#8211; $3 billion more than Bitcoin.<\/p>\n<p>Imagine not being bullish <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$ETH<\/a>. <a href=\"https:\/\/t.co\/3NfOz1ruiM\">pic.twitter.com\/3NfOz1ruiM<\/a><\/p>\n<p>&mdash; Ryan Watkins (@RyanWatkins_) <a href=\"https:\/\/twitter.com\/RyanWatkins_\/status\/1351349824961077249?ref_src=twsrc%5Etfw\">January 19, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>To prove this, Watkins attached a chart showing that Ethereum-powered stablecoins, alongside Ethereum itself, had already processed a whopping $12.3 billion worth of transactions in just 24 hours. This beats Omni-based USDT and Bitcoin\u2019s numbers, $9.3 billion, with a sizable margin to boot.<\/p>\n<p>It should be noted, however, that this data explicitly excludes any ERC-20 transactions for Ethereum that aren\u2019t tied to stablecoins. This is done in order to avoid accidentally double-counting volumes within <a href=\"https:\/\/insidebitcoins.com\/cryptocurrency-exchanges\">decentralized exchanges<\/a> (DEXs).<\/p>\n<h2>Flippening Index Not As Bullish As Messari<\/h2>\n<p>The so-called \u201c<a href=\"https:\/\/www.blockchaincenter.net\/flippening\/\">Flippening Index<\/a>\u201d of Blockchain Center, an index determining whether or not Ethereum had pushed past Bitcoin in terms of activity and size through eight key metrics, showed something interesting. According to this Index, Ethereum now stands at 63.5% along the path of flipping Bitcoin.<\/p>\n<p>This data from the Blockchain Center doesn\u2019t show that Ethereum\u2019s transaction volumes had actually beaten Bitcoin\u2019s quite yet. Even so, the Flippening Index does make note that in terms of total transaction fees and raw transaction count, Ethereum has already beaten the world\u2019s first blockchain network.<\/p>\n<p>This data also makes note that Ethereum is standing at 94% of Ethereum\u2019s node count, but had actually managed to flip Bitcoin\u2019s metric in that field a number of times throughout these past few months. Alongside this, the Index sets the trade volume to 57% of that of Ethereum\u2019s, after having reached a record high last week of 76%.<\/p>\n<h2>Comparing Steak To Fruit<\/h2>\n<p>Even with Ethereum building a sizable amount of momentum, it should be noted that the hype for the blockchain network isn\u2019t that strong, when one looks at Google Search volumes. The asset can only boast with 14% of the search volumes of bitcoin, and only 21% of Bitcoin\u2019s market cap. Messari estimates, however, that the entire ecosystem of Ethereum, all coins included, stands worth around $212 billion in value. This stands as 31% of Bitcoin\u2019s market cap. Less than a third, but still sizably more.<\/p>\n<p>Time will tell if Ethereum ever manages to overtake Bitcoin, the issue is that these two cryptocurrencies can\u2019t really overtake each other truly. Sure, they can have greater market caps and transaction volumes, but Bitcoin and Ethereum are very much two different assets used for very different goals.<\/p>\n","protected":false},"excerpt":{"rendered":"<div class=\"fin-excerpt\">Messari, the crypto analytics firm, revealed on the 19th of January, 2020, something quite interesting: The Ethereum network now boasts 28% more transactions than Bitcoin. <a class=\"read-more-link\" href=\"https:\/\/insidebitcoins.com\/news\/messari-shows-ethereum-transactions-being-28-more-than-bitcoin\" title=\"Messari Shows Ethereum Transactions Being 28% More Than Bitcoin\">[&#8230;]<\/a><\/div>","protected":false},"author":1717,"featured_media":235739,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7596],"tags":[734,5319,7614,7600,5982],"class_list":["post-281390","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency","tag-bitcoin","tag-btc","tag-dex","tag-eth","tag-ethereum"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.8 (Yoast SEO v23.8) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Messari Shows Ethereum Transactions Being 28% More Than Bitcoin<\/title>\n<meta name=\"description\" content=\"Ryan Watkins of Messari, who tweeted how the daily transaction volume of Ethereum was reaching parabolic levels of growth.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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