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Ethereum Active Addresses Surpassed Bitcoin

Ethereum Active Addresses Surpassed Bitcoin

Santiment, a crypto analytics company, tweeted that Ether (the official currency of the Ethereum network, and the second oldest major token that's still around) created history, surpassing Bitcoin for the first time in daily active addresses:

The data on BitInfoCharts reveals more than what Santiment has put out. To understand the magnitude of the fall in the number of Bitcoin's active addresses, let's sample these numbers. On April 15, 2021, Bitcoin had a gargantuan 1.14 million active addresses. On June 27, it bottomed out at just over 462,800 addresses.

Ether, on the other hand, had a little over 751,000 addresses on April 15. On June 28, its numbers had increased to over 926,900 addresses when Bitcoin was at just about 618,900 addresses. The dip in the number of Bitcoin's active addresses could mean that people are selling off their digital assets at a record pace.

Now, the only question many had on their minds was if Ethereum would sustain the momentum. Well, the answer is no. On July 3, Bitcoin was once again at the top with roughly 823,287 active addresses to Ethereum's approximate 683,608 users.

On July 5, the largest cryptocurrency was trading at $34,445 following a 2.17% fall in its prices. Ethereum, on the other hand, traded at $2,227 after taking a 0.21% hit in the last 24 hours. While Bitcoin's current market cap is about $642.54 billion, nearly three times that of Ethereum's $265.38 billion.

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