Bitcoin overtakes Ethereum in terms of daily active users

According to Artemis analysts, on Friday, September 15, more than 800,000 active addresses (Daily Active Addresses, DAA) were recorded in the Bitcoin network BTC $97,619.25 Bitcoin -1.30% Market capitalization $1.93 trillion VOL. 24 hours $3.03 billion . This is more than twice as many as the same figure for Ethereum ETH $3,406.75 Bridged Ether (StarkGate) 3.27% Market capitalization $0.29 billion VOL. 24 hours $2.42 billion , which was just over 387,000.

The above graph shows that since the end of August, the number of active Ethereum users has declined, while the BTC blockchain has maintained an upward trajectory.

It is interesting that the Bitcoin network continues to gain momentum even though it is predominantly a transactional layer that provides peer-to-peer transfer.

Meanwhile, Ethereum is the leader in terms of the number of cryptocurrency transactions processed daily. As of September 15, the network processed more than 1 million transactions, which is 400 thousand more than the Bitcoin blockchain. As of now, more than 2.3 million transactions have been made on the ETH network.

DAA and the daily number of transactions are important indicators used to analyze the level of engagement and the state of public blockchains.

Over the past 18 months, activity in the cryptocurrency market has been rapidly declining as asset prices have fallen. The collapse of Ethereum from $ 5000 at the end of November 2021 to $ 1500 in 2022 has negatively affected the activity of users of DeFi protocols and NFT marketplaces.

According to DeFiLllama, the total value of assets blocked in smart contracts (TVL) has stabilized at $ 50 billion. At the same time, the trading volume fell by more than 90%, which led to a decline in the value of NFT-related projects, including Immutable X and ApeCoin.