HomeCryptoBitcoinMessari: Ethereum vs Bitcoin in terms of transaction volume

Messari: Ethereum vs Bitcoin in terms of transaction volume

According to a recent report by Messari comparing Ethereum vs. Bitcoin, Vitalik Buterin’s blockchain exceeded that of BTC in terms of volume of transactions handled. 

In fact, as far as the number of daily transactions is concerned, the Ethereum blockchain has been constantly surpassing Bitcoin for 3 years, i.e. since August 2017, with actual records achieved recently thanks to the success of DeFi protocols and stablecoins. 

However, since the average value of transactions in US dollars has always been quite low on Ethereum, while on Bitcoin remains much higher, their overall volume in dollars has historically seen Bitcoin prevail over Ethereum. 

Ethereum vs Bitcoin

In fact, the chart of Messari 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 Ethereum blockchain. 

But since not only ETH transactions are recorded on the latter, whereas in fact almost all transactions on the Bitcoin blockchain concern BTC, lately the trend has reversed. 

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

In July, in particular, it fell below 2 billion dollars, while that on the Ethereum blockchain has risen to 2.5 billion dollars, the highest level ever recorded. 

Of these 2 and a half billion dollars exchanged in a day on the Ethereum blockchain only a minor part is due to ETH, while a large part is due to other tokens. 

According to Messari, the main culprit is USDT, the leading stablecoin anchored to the US dollar, which has recently also been traded a lot in DeFi

In reality, Messari speaks generally about stablecoins, because also DAI and USDC are playing a fundamental role, especially in DeFi. Nevertheless, USDT remains the most widely traded stablecoin in the world. 

Stablecoins are being used increasingly, both as a means of payment and, above all, as an alternative to fiat currencies, for example on DEXs, where fiat currencies are either not allowed to be used, or 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 carry out 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 such as USDT, DAI or USDC are proving to be excellent alternatives to fiat money, especially in some specific areas such as DeFi, and since most of them are ERC-20 tokens that run on the Ethereum blockchain, this means that Ethereum is increasingly being used as a basic infrastructure for the exchange of tokens. 


Marco Cavicchioli
Marco Cavicchioli
Born in 1975, Marco has been the first to talk about Bitcoin on YouTube in Italy. He founded ilBitcoin.news and the Facebook group" Bitcoin Italia (open and without scam) ".