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Ethereum vs Bitcoin in terms of transaction volume

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According to a recent Messari report comparing Ethereum vs. Bitcoin, Vitalik Buterin's blockchain outperformed BTC in terms of volume of transactions handled.

In fact, when it comes to the number of daily transactions, the Ethereum blockchain has consistently outperformed Bitcoin for 3 years, meaning since August 2017, with actual records recently achieved thanks to the success of DeFi protocols and coins stable.

However, since the average value of US dollar transactions has always been pretty low on Ethereum, while Bitcoin is still much higher, its overall dollar volume has historically seen Bitcoin prevail over Ethereum.

Ethereum vs Bitcoin

In fact, the Messari chart reveals, for example, that in July of last year, the total daily volume of all transactions on the Bitcoin blockchain was 3 times higher than that of all transactions on the Bitcoin blockchain. Ethereum.

But since not only ETH transactions are logged on the latter, while in fact almost all transactions on the Bitcoin blockchain refer to BTC, the trend has been reversed lately.

During 2020, the daily trading volume on the Bitcoin blockchain fluctuated between $ 1.5 and $ 2.5 billion.

In July, in particular, it fell below $ 2 billion, while on the Ethereum blockchain it rose to $ 2.5 billion, the highest level ever recorded.

Of these $ 2.5 billion traded in one day on the Ethereum blockchain, only a minor portion is due to ETH, while a large portion is due to other tokens.

According to Messari, the main culprit is USDT, the main stable currency anchored to the US dollar, which has also been trading a lot in DeFi recently.

Actually, Messari generally talks about stablecoins, because DAI and USDC are also playing a key role, especially in DeFi. However, USDT remains the most traded stable currency in the world.

Stable coins are increasingly used both as a means of payment and, above all, as an alternative to fiat currencies, for example in DEX, where fiat currencies are not allowed or are not convenient.

Considering that it is now quite clear that BTC is not particularly appreciated as a transactional currency, especially as a possible alternative to fiat money, stablecoins play this role in a very effective way, without limitations and also with a certain degree of protection. of privacy. for those who use them.

In other words, stablecoins like USDT, DAI, or USDC are proving to be excellent alternatives to fiat money, especially in some specific areas like DeFi, and since most of them are ERC-20 tokens that run on the blockchain Ethereum, this means Ethereum is increasingly used as a basic infrastructure for token exchange.



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