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Ethereum Surpasses Bitcoin in Daily Network Transaction Fees
Ethereum Surpasses Bitcoin in Daily Network Transaction Fees

Ethereum has surpassed bitcoin in total daily USD-denominated transaction fees for the second time in nearly two weeks.Ethereum Surpasses Bitcoin in Network Fees According to data compiled by Coin Metrics, Ethereums network has overtaken bitcoin in terms of the amount of fees generated from daily transactions.Ether briefly overtook bitcoin on Sept. 21, before establishing a substantial margin on Sept. 29. While total transaction fees are trending downwards for both crypto-assets, ether has managed to generate more value from transactions overall.Prices for bitcoin and altcoins took a hit in September, but overall ETH miners were able to come away relatively unscathed. Ether ended the month just barely in the green, with ether transactions climbing above bitcoin in a rare occurrence. Despite the shift in total transaction fee volume, bitcoin continues to hold an advantage over the market, with BTC dominance hovering above 67%.Ethereum's networkvolume has been trending to its highest point in more than a year, with the popular gambling application being responsible for more than 50% of the networks gas usage. Despite prices for ETH falling through the latter weeks of September, the amount of ether being locked into smart contracts saw a significant boost, giving some indication that users remainundeterred by market prices.Featured Image Credit: via

cryptoDATA 02 Oct 2019 cryptoTIME 1 min read
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