Ethereum is ahead of bitcoin in terms of transaction fees

Ethereum is ahead of bitcoin in terms of transaction fees
CONTENT

  • On June 6 and 7, the volume of transaction fees on the Ethereum network exceeded $ 500,000.

  • Tether (USDT) is one of the most active tokens in recent days.

  • The daily number of transactions with Ethereum is also growing.

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Ethereum is ahead of bitcoin in terms of transaction fees

For the second day in a row, Ethereum is ahead of Bitcoin in terms of total daily network fees, and this rare occurrence indicates increased market activity and player interest in ETH..

On June 6, the total daily commissions on the Ethereum network exceeded those on the Bitcoin network. On June 6 and 7, the total commissions for transactions with the second largest digital currency were $ 502,000 and $ 546,000, respectively, and in the case of Bitcoin, the figures were $ 310,000 and $ 252,000, respectively..

The next day, cryptocurrency analyst firm Glassnode tweeted about this rare phenomenon, which repeated itself two days in a row..

Ethereum is ahead of bitcoin in terms of transaction fees

Situations in which Ethereum transaction fees outperform Bitcoin do not happen often, and some market observers take this as a sign of a surge in activity on the network. The daily volume of transactions themselves is also growing, confirming this theory..

As the general analysis shows, over the past few days, one of the most actively traded tokens is Tether (USDT) – over the past 24 hours, coins worth $ 31 billion have been fixed in circulation. Over the past three days, from June 5 to June 7, the volume of cumulative unique transactions with Tether was 502,377.

A similar situation was observed in September 2019, when on the Ethereum network, the daily volume of fees exceeded the amount of fees for transactions with Bitcoin. Then the number of transactions with Tether set a record of 187,912 on the Ethereum (ETH) network..

Do you think Ethereum will be able to continue to squeeze Bitcoin in the context of the volume of commissions on the network? Share your thoughts with us in the comments and join the discussion in our Teleg channel!

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