Ethereum: fees are now higher than those of Bitcoin
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Ethereum: fees are now higher than those of Bitcoin

By Michele Porta - 19 Sep 2019

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In the last 24 hours, the fees of Ethereum have surpassed those of Bitcoin by more than 10%.

Twice as many transactions

Analysing the data provided by Messari, it is possible to notice that more than 200 thousand dollars in fees have been paid on the Ethereum network in the last 24 hours. Bitcoin, on the other hand, thanks to the price adjustment, is now at a standstill at about 176 thousand dollars.

ethereum fees bitcoin

Even the number of transactions between the two networks in the last 24 hours declare Ethereum as the true winner: more than twice as many transactions as Bitcoin.

One of the reasons that may have prompted the use of ETH to these levels could certainly be the sudden rise in prices over the past few days.

In addition, as can be seen from the data, the level of GAS used in the network and the hashrate are at their highest.

The influence of Tether (USDT) should not be underestimated, which, according to some data, accounts for about 20% of the total transactions on the Ethereum network.

The situation of other cryptocurrencies

As can be seen from the image above, the rest of the cryptocurrencies are far away.

The data concerning XRP is remarkable, it manages a considerable amount of transactions, almost three times those of bitcoin.

As for the fees paid on the network, however, there seems to be no competition as all the other cryptocurrencies are very far from the first two coins for market cap.

The case of Bitcoin Cash (BCH) is interesting: it has collected only 150 dollars of fees in the last 24 hours with a transaction cost of just 0.0009 dollars.

Whereas Litecoin (LTC), after the recent halving, seems to have lost some of its momentum and records just over 30 thousand transactions in the last 24 hours with less than 900 dollars in total fees paid on the network.

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