Transactions in the Ethereum network exceeded bitcoin transfers three times

According to Nasdaq and Ycharts data published on Reddit, the total number of transactions on the Ethereum network has exceeded bitcoin by more than three times. In 2022, users made 408.5 million ETH $3,287.67 Bridged Ether (StarkGate) -1.37% Market capitalization $0.29 billion VOL. 24 hours $1.15 billion transactions, which is 338% more than BTC $95,567.87 Bitcoin -1.37% Market capitalization $1.89 trillion VOL. 24 hours $1.69 billion transactions — 93.1 million.

Despite the fact that Ethereum managed to overtake the flagship cryptocurrency in terms of the number of transfers, transactions on the Bitcoin network were more stable and more periodic, analysts said. Ethereum experienced much higher volatility, which is attributed to a sharp increase in demand on the eve of important events, including the transition of ETH to the green blockchain.

According to Bitinfocharts, the volume of Ethereum transactions continued to grow in the new year: on January 2, the number of Ethereum transfers reached 924,614, which is 400% more than the 229,191 Bitcoin transactions on the same day.

According to CryptoCompare, in the second half of 2022, Ethereum outpaced Bitcoin in terms of market growth, despite significant losses due to market volatility. Over 6 months of 2022, ETH recorded a 22.4% gain, while BTC lost 10.8%.