11:14Flipped: Ethereum now processes 28% more transactions than Bitcoin
Messari estimates Ethereum’s daily transaction volume is now 28% greater than Bitcoin's.Messari estimates Ethereum’s daily transaction volume is now 28% greater than Bitcoin's.
The daily volume of transactions on the Ethereum (ETH) network is now 28% greater than on Bitcoin (BTC), according to crypto analytics firm Messari.
On Jan. 19, Messari’s Ryan Watkins tweeted that Ethereum’s daily transaction volume “is going parabolic” alongside a chart indicating that Ethereum and Ethereum-powered stablecoins have processed $12.3 billion in transactions over the past 24 hours — dwarfing Bitcoin and Omni-based USDT’s $9.3 billion.
The data excludes non-stablecoin ERC-20 transactions for Ethereum to avoid double-counting DEX volumes.
According to Blockchain Center’s “Flippening Index,” which uses eight key metrics to track whether the Ethereum network has surpassed Bitcoin in size and activity, Ethereum is 63.5% of the way to having flipped Bitcoin.
While Blockchain Center’s data suggests Ethereum is yet to beat out Bitcoin’s transaction volume, the Flippening Index notes Ethereum is already beating Bitcoin by transaction count and total transaction fees.
The data also has Ethereum’s node count at 94% after briefly flipping Bitcoin several times in recent months, and estimates Ethereum’s trade volume is equal to 57% of Bitcoin’s after bouncing off a record high of 76% last week.
The Flippening Index: Blockchain Center
Polkadot, the brain-child of Ethereum co-founder Gavin Wood, completed its own flippening last week to overtake Ripple’s XRP and rank as the third-largest non-stablecoin crypto asset by capitalization behind Ethereum.
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