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ETH wallets activity surpasses BTC for the first time ever: Report

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The overall activity of addresses (or wallets) on the ETH (ETH) blockchain has exceeded that of BTC’s on Monday—for the first time in the history of digital assets, according to crypto metrics firm Santiment.

“Following up on yesterday’s report on #ETH #FUD and the buying opportunity we saw, today has marked a historic day – For the first time in #crypto history, $ETH address activity is ABOVE $BTC address activity, as prices have soared back above $2,100,” Santiment tweeted.

The metric in question reflects the total number of active unique addresses that have been conducting transactions over the course of 24 hours. Per Santiment’s chart, roughly 651,560 wallets were involved in various activities on the ETH blockchain yesterday—versus Bitcon’s 597,280.

However, while this demonstrates the general activity, it is hard to say how many actual users were involved. That’s because there is virtually no limit to how many addresses a single user or entity could have, so the numbers are not indicative in this regard.

Some beg to differ

Meanwhile, other metric platforms’ data somewhat contradicts Santiment’s report. According to Glassnode, for example, the ETH network saw 683,021 active addresses yesterday.

Simultaneously, 787,767 wallets conducted transactions on BTC’s blockchain on June 28—so the numbers are not in favor of ETH in this case.

Still, ETH has been showing better results than most other cryptos in terms of price appreciation lately. At press time, ETH is trading at around $2,180, up roughly 8% on the day, according to crypto metrics platform CoinGecko.

In its turn, BTC is trading in the ballpark of $35,900, up 4% on the day. In terms of weekly gains, there is relative parity between ETH (+14.8%) and BTC (+13.3%), with the former showing slightly better results.

As CryptoSlate reported, the prices of both BTC and ETH fell by around 15% this past weekend. At the time, BTC failed to break above the $35,000 level while ETH struggled with the $2,000 mark.

The post ETH wallets activity surpasses BTC for the first time ever: Report appeared first on CryptoSlate.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.
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