Total transactions on the Ethereum network outstripped Bitcoin more than fourfold, but Bitcoin was still the most searched cryptocurrency of 2022.
The Ethereum network eclipsed Bitcoin in terms of total transactions last year, although the crypto king has managed to retain its crown when it comes to online interest.
Based on Nasdaq and Ycharts data shared on Reddit on January 1. 2, there is 338% more ether ETH ($1,216) transactions in 2022 (408.5 million) Bitcoin BTC ($16,723) (93.1 million).
The values shown in the chart are in millions of transactions, with average daily transactions of around 1.1 million for ETH and 255,000 for BTC. However, the transaction volume on the Bitcoin network is more stable and more stable than Ethereum, which experienced a large change in transaction volume. This is due to the importance of occasional spikes, such as the NFT launch, and other gas-intensive events such as the XEN strike.
The high transaction value of Ethereum continued in the New Year, and the price of Ethereum on January 2 reached 924,614, a 300% increase from Bitcoin 229,191 on the same day, according to Bitinfocharts. The analyst who produced the metric said he was “skeptical of those who say change is possible”, adding that supporters have reasons to do so now.
A shift occurs when a chain passes a higher chain for one metric, in this case, transactions and services. This chart does not include Layer 2 transactions, which would put Ethereum even higher than Bitcoin for this metric. According to L2beat, the number of L2 transactions per second exceeded Ethereum Layer 1 in mid-October and has remained above it since then. However, while Ethereum may be ahead in terms of transactions and services, Bitcoin is still the most sought-after cryptocurrency online.
On Jan. 1, a report from “In Bitcoin, We Trust” revealed that BTC received the most attention on Google search engines in 2022, with 28.4 million Google searches per month worldwide.
The news is confirmed by Cointelegraph, which reported on December 2. 23 and Ethereum did not take second or even third place for search popularity. Shiba Inu memecoins have the following slots
SHIB ($0.000008) and Dogecoin DOGE ($0.07) individually. Ethereum, in fourth place, has 3.8 million global searches per month, according to the data.
Get $200 Free Bitcoins every hour! No Deposit No Credit Card required. Sign Up