Ethereum growth and price movement often take over the king of cryptocurrency and the latest Coin Metrics report reveals that the queen of cryptocurrency has done it once again. Ethereum and Bitcoin’s market cap’s difference, if analyzed, would generate the result of Bitcoin being ahead of Ethereum by $115.86. Last week, Bitcoin’s (BTC) active addresses … Read more
Ethereum and Bitcoin’s market cap’s difference, if analyzed, would generate the result of Bitcoin being ahead of Ethereum by $115.86.
Last week, Bitcoin’s (BTC) active addresses registered a hike of about 6.3 percent, while the Ethereum’s (ETH) active addresses registered a fall of about 13.4 percent.
Per the latest report of Coinmetrics, it has been observed that the amount of addresses holding a small number of BTC has had improved drastically after the crypto-market collapse on the 12th of March.
Ethereum growth clearly above Bitcoin
It was also witnessed that the number of addresses holding between 1/100 millionth and 1/10 millionth has improved by over four percent.
Though the above-mentioned metrics were measured for a short period, this trend could very well be observed in the long-term. As a matter of fact, analysis of Glassnode predicted that the number of non-zero addresses for BTC rose from 22 million in January 2019 to more than 30 million at the time of writing.
Though Ethereum might have taken the limelight to exchanges, even during the market crash, the report claims that amount of ETH held by the exchanges in the past month had increased relatively, while the number of BTC held in the exchanges has declined.
Per the report, on exchanges, a rise of 5 percent rise was witnessed the number of Ethereum addresses, while a decline of 3 percent in the number of Bitcoin addresses was witnessed on exchanges.
The current Ethereum growth is good for Ethereum price movement as well since the cryptocurrency has clearly shown better growth on the price charts.