Ethereum (ETH) transactions have increased by 338% in the last year, according to new data from crypto analytics company Santiment. The firm published its July SANbase report on Twitter on July 19, showing that ETH transactions have been steadily rising since January 2019. Other key findings in the report include the fact that Binance Coin (BNB) is steadily moving away from Bitcoin’s technical dominance, which has been declining compared with Ethereum, Tether (USDT) and Tron (TRX).
The report also highlighted that most ETH transfers lately were over-the-counter deals and to exchanges, which suggests that large investors are moving into the asset class. Meanwhile, Santiment argued that Bitcoin’s reputation as a store of value was intact despite its high volatility since social metrics suggested that people still trusted in the asset.
Ethereum’s Quest For Top Continue
ETH transactions have increased by 338% in the last year, according to new data from crypto analytics company Santiment. The firm published its findings on Twitter yesterday, July 23rd.
The data shows that ETH transactions were at around 25 million per day in July 2019 — an increase of more than 10 million over the same period last year. The total number of BNB (Binance Coin) transactions has also increased significantly over this time frame, increasing from an average of around 1 million per day to approximately 3 million per day currently.
Other key findings in the report include the fact that Binance Coin (BNB) is steadily moving away from Bitcoin’s technical dominance, which has been declining compared with Ethereum, Tether (USDT) and Tron (TRX).
Bitcoin remains the most popular cryptocurrency so far. However, it is not clear whether this will continue as long-term investors move towards alternatives such as Ethereum and other tokens issued by ICOs.
