CoinMetrics, the cryptocurrency data aggregator, has compiled a List of 100 observations on recent developments in the digital asset markets, Y. The numbers add to a very optimistic outlook for the ecosystem.TO
Published on the 100th edition of the State of the Network report, the list states that a $ 100 investment in Dogecoin (DOGE) made 100 days ago would be worth $ 2,742 today and the same investment of $ 100 exceeds Bitcoin (BTC) (which would be worth $ 135 today), Ether (ETH) ($ 186), and Uniswap (UNI) ($ 401).
The report states that Bitcoin achieved a “reliable trading volume” of $ 14.5 billion in 100 daysalong with $ 6.1 billion from Ether, $ 2.4 billion from XRP, $ 2.3 billion from DOGE, and $ 1.3 billion from Cardano (ADA) over the same period.
If you look at the recently active addresses, Veteran networks seem to remain the most popularwith nearly 611,000 active Ethereum addresses per day in the last 100 days and 1.12 million active Bitcoin wallets. Bitcoin set a new daily activity record on April 14 with 1.36 million wallets connected to the network.
In the last 100 days, a total of 1.4 million addresses have connected to the most important DeFi protocols “Uniswap, Aave, Compound, MakerDAO and Synthetix” The Litecoin network has hosted 24.4 million active wallets.
Users pay to access the Ethereum mainnet faster $ 2.3 billion of the total of $ 3.17 billion in fees that Ethereum generated was posted from early 2021 to the present day. Instead, Bitcoin has generated approximately $ 2 billion in commissions over the life of the network.
The average fee for Bitcoin transactions over the past 100 days averaged $ 20.68, while Ethereum transactions averaged $ 16.68 over the same period.. Bitcoin’s average transaction size of $ 30,000 has been almost double that of Ethereum at $ 15,660 since early 2021.
Despite the upcoming transition from Ethereum to evidence of stake Ethereum’s hash rate has grown 4.5 times faster than Bitcoin’s Since the start of the year, Ethereum is up 89%, while Bitcoin’s hashing power is up 20%.
The report also notes the growing popularity of stable coins., as the supply of Tether (USDT) on Ethereum increased from 13.5 billion to 24.4 billion this year. However, this was exceeded by the amount of USDT in Tron, which rose from 6.8 billion to 26 billion. USD Coin (USDC) rose 234% year-to-date from 4.1 billion to 13.7 billion, and Dai’s circulation rose 192% from 1.2 billion to 3.5 billion.
“”It took about 2.5 years for the stable coin supply to grow from 1 billion to 10 billion. It took less than a year to grow from 10 billion to more than 75 billion. “CoinMetrics wrote, adding:
“The total supply of stable coins is expected to exceed $ 100 billion by the end of 2021.” “The total supply of stable coins is expected to exceed $ 100 billion by the end of 2021.”
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