Ethereum Makes History as it Surpasses Bitcoin in Active Addresses

Bitcoin has been the top dog for as long as it’s been around, but recently, ETH has made headlines, as it’s surpassed BTC in active addresses for the first time ever.

For the first time ever, ETH surpassed BTC in the number of worldwide transactions carried out or active addresses. For those that aren’t cryptocurrency experts, an active address is a unique address that is “active” in a network and can be measured as either a receiver or sender of cryptocurrency.

The numbers

BTC saw a crash of 60% in the last few months. Going from over 1.3 million, all the way down to 500,000. During BTC’s fall of active addresses, ETH effective took the lead, coming in at over 200,000 active addresses than BTC.

Furthermore, Blockchain Center’s Flippening Index reported that Ethereum’s transaction fee revenue leads by more than 300% and the total number of transactions taking place on Ethereum is up by close to 500%.

To put it simply, an increase in active addresses is a clear indicator of a shift in popularity trends. The more transactions taking place on a network, the more active transactions will be recorded on a network’s blockchain. So Ethereum having more transactions than the top dog Bitcoin is a historic win and could be a sign of a major shift in currency popularity, happening right before our eyes.

Ethereum has been gaining popularity

Ether was introduced to the market in 2015, and since then, it has followed close behind Bitcoin as one of the top cryptocurrencies by market cap ever. Like Bitcoin, Ethereum is a decentralized blockchain technology with a native cryptocurrency, Ether (ETH) that allows people to send digital currency from one part of the world to another, in just minutes.

But Ethereum sets itself apart from other forms of cryptocurrency, as it is unique in many admirable ways. The first being, its creation of the groundbreaking smart contract.

What is an Ethereum Smart Contract?

A smart contract “Is a collection of code (its functions) and data (its state) that resides at a specific address on the Ethereum blockchain”. Unlike other blockchains, Ethereum transactions can have rules and functions built into them.

All smart contracts take place and are executed on the Ethereum Virtual Machine (EVM). Each full Ethereum node has an EVM built into it and has the ability to carry out an impressive 140 different operation codes or “opcodes”.

But there’s another popular characteristic of Ethereum’s ETH is the lower than usual fees that come with it. Some crypto-coins come with hefty transaction fees, which can add up quickly and catch some people by surprise.

The average transaction fee on Ethereum is $2.15 which is considerably lower than other currencies. The reasons behind the low Ethereum price are partly due to the fact ETC is slightly lower in value than other, more expensive cryptocurrencies like Bitcoin. So, it can be expected that as the value of ETC goes up, so will the fee.

What is the Ethereum price?

The current Ethereum price sits at $2036.44 per coin with a 24-hour trading volume of $17,612,921,696 USD. But experts estimate that its value will climb to upwards of $2,500 soon.

Ether currently ranks #2 on the market, with a live market cap of $237,460,185,321 USD with a circulating supply of 116,667,885 ETH coins.

Buy cryptocurrency and find the latest up-to-date Ethereum price

There are tons of markets and sites out there to get started with investing in ETH or even BTC today. Markets like Bitvavo are reliable and quickly becoming one of the go-to websites for buying, trading, and selling Ether. It’s also a great site to get the latest info and updates on the Ethereum price.

For those just getting started in the world of cryptocurrencies, finding a good market while you learn the ropes is important. According to their market site, Bitvavo has become the largest digital asset exchange in the Netherlands and one of the leading European cryptocurrency exchanges.

A final word

As people are rushing to take advantage of the cryptocurrency boom, experts and analysts around the world agree that Ethereum’s Ether will continue to be a cryptocurrency powerhouse. BTC is still the number one most valuable digital currency, but with enough time and if trends continue on the trajectory that they are on today, ETH very well could be one day be at number one.