Annual transaction volume on ETH network could reach $1 trillion, and Bitcoin outperforms gold and stocks
Annual transaction volume on ETH network could reach $1 trillion
The boom in the DeFi sector Q3 led to the Ethereum network transferring twice as much funds as Bitcoin.
According to Messari, the average daily volume of transactions on the Ethereum blockchain is $7 billion, and on the Bitcoin network — less than $3 billion. If the current trend continues, Ethereum will become the first public blockchain to process transfers of $1 trillion in a calendar year.
Messari explains Ethereum’s record performance by an increase in the volume of ERC-20 stablecoins. Most of Tether (USDT) transactions take place on the Ethereum blockchain.
Bitcoin surpasses gold and stocks by multifold in terms of profitability
The profitability of investments in bitcoin exceeded the indicators of gold and securities by multifold, said Vetle Lunde, an analyst at Arcane Research.
Since the beginning of the year, the first cryptocurrency has risen in price by more than 80%, while gold has strengthened by 26%, and the S&P 500 index has added only 6.2% in price. However, there are more impressive results among cryptocurrencies than Bitcoin. For example, Chainlink in 2020 has risen in price by 564%, Cardano — by 228%, and the Ethereum price has grown by 217%.
On Wednesday, the value of BTC renewed a maximum of 15 months, having risen to $13,200.