Ethereum equals Bitcoin for transferred value
Ethereum equals Bitcoin for transferred value
Bitcoin

Ethereum equals Bitcoin for transferred value

By Alfredo de Candia - 16 Apr 2020

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Thanks to the data found on the recent report of Messari, it is possible to see how in the last period the gap between Bitcoin and Ethereum has decreased, touching similar figures for both assets in terms of transferred value.

Messari bitcoin ethereum

The graphs are very clear and show how Bitcoin has lost ground in recent months, perhaps because of the collapse occurred a few months ago, while Ethereum has continued to grow to match the same value transferred by the oldest blockchain.

In fact, within 1 year Ethereum has transferred value starting from 0.3 billion to over 1.5 billion dollars on a daily basis. The most significant aspect of this increase in value is to be attributed to the various stablecoins, such as Tether (USDT), TrueUSD and USD Coin, which as it is known are all on the Ethereum blockchain.

In fact, looking at the data of Tether (USDT), it is possible to see how only on Ethereum have been issued tokens for a value of just under 5 billion, a value that exceeds even that on Omni, demonstrating how stablecoins are becoming the main tool to move capital.

The report also reads about the growth of Tether: born in 2019, in the q1 of 2020 it exceeded for the first time a market capitalization of 4.5 billion dollars, and this figure raises some doubts as it means that there is more demand for this stablecoin, perhaps because of the economic crisis.

Another figure highlighted by Messari is the growth of other stablecoins such as USDC and BUSD, which have doubled their volumes to just under 200 million dollars, while PAX, TUSD, DAI and HUSD have seen a more modest increase.

At this point, it is clear that decentralized finance (DeFi) is entering its initial stages of capillarization and that thanks to this, Ethereum may soon be able to exceed even the volumes of bitcoin, considering that the backbone of DeFi is, in fact, Ethereum which, in the meantime, is preparing to transition to Proof of Stake.

 

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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