ETH’s trading volume grew much faster than BTC’s in first half of 2021
Ethereum (ETH) trading volume grew much faster than Bitcoin (BTC) trading volume in the first half of 2021.
According to the data from CoinMarketCap, Ethereum has been dominating the market since the beginning of the year, with over 50% of the trading volume. At the same time, Ethereum’s price is falling a bit, and on the contrary, Bitcoin is also doing quite well.
At the start of 2021, Bitcoin’s trading volume was $100 billion a month. At the start of this year, it was only $30 billion. Ethereum’s trading volume meanwhile grew from $1 billion to $1.5 billion during the same period.. Read more about why ethereum is going down today and let us know what you think.
According to a recent study, the world’s second-largest crypto asset outperformed Bitcoin in terms of trading volume growth in the first half of this year.
According to a recent study from major U.S. crypto exchange Coinbase, Ethereum’s trading volume increased faster than Bitcoin’s in the first half of this year.
The Coinbase Institutional H1 2021 in Review report, published on July 26, said that the first half of this year was one of the most active in crypto history, with numerous new all-time highs in values, user adoption, and trading activity.
The study, which used data from twenty exchanges across the world, found that Bitcoin trade volume hit $2.1 trillion over the time, increasing 489 percent from $356 billion in the first half of last year.
The overall trade volume of Ethereum surpassed $1.4 trillion, although it grew at a significantly quicker rate, increasing by 1,461% from $92 billion in the first half of 2020. Ethereum’s trading speed has now surpassed Bitcoin’s for the first time in history, according to Coinbase.
The study also looked at overall crypto market capitalization, which started the year at $769 billion, peaked at $2.4 trillion in May, and finished the year at $1.4 trillion, a net gain of 86 percent.
Why are professional traders pessimistic on Ethereum despite its excellent fundamentals?
The majority of BTC’s gains occurred between Q4 2020 and Q1 2021, before the crypto asset’s price fell in Q2 2021, according to the report. It is presently down 38.8% from its all-time high of $65,899 set on April 13th.
Ethereum, on the other hand, experienced the bulk of its gains in Q2 2021, when its price quadrupled to an all-time high of $4,357 on May 12, but it has since fallen even more, down 47.4 percent to its current levels.
The second most valuable crypto asset increased by 895 percent in the last year and 210 percent in the six months leading up to June 30. Increased DeFi use, investor confidence in the move to proof-of-stake, and the development of layer-two scaling solutions for the network are all contributors, according to Coinbase.
Ethereum will become the primary asset for investors in 2021, according to Cointelegraph, which predicted this in January. According to CoinGecko, BTC and ETH have gained 32.4 percent and 27.7 percent respectively in the last week.
The last 7 days were fantastic for Ethereum. ETH’s trading volume grew much faster than BTC’s in first half of 2021. The total trading volume of ETH increased by over $1.2 bln and that of the total trading volume of BTC decreased by $0.8 bln. However, the trading volume of ETH more than tripled that of BTC in the period.. Read more about bitcoin price and let us know what you think.
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