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Bitcoin Most Popular Cryptocurrency and Ethereum Took Lead in Transactions

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Top cryptocurrencies in terms of market cap—Bitcoin (BTC) and Ethereum (ETH)—are hardly found in any competition. Both hold distinct use cases and users and investors view them from different perspectives. Yet there remain several factors which share which crypto asset is leading in a specific domain. 

During the year 2022, the smart contract blockchain network Ethereum remained way higher than Bitcoin in terms of total transaction volume. Ethereum (ETH) network had seen the overall transaction worth 408.5 million USD during this year while Bitcoin (BTC) had 93.1 million USD. The former has about 338% more transaction volume than the latter. 

Along with the transaction over the network for the whole year, the daily transaction volume of Ethereum remained higher than Bitcoin. It continued with stepping into the new year as well. 

According to Bitinfocharts data, Ethereum transactions on 3rd January 2023 is 920.276K while Bitcoin transactions are 229.191K. Smart contract blockchain network has over 301% more transactions than the biggest blockchain cryptocurrency. 

source – Bitinfocharts

Biggest cryptocurrency by market capitalization, Bitcoin (BTC) is also the most popular crypto asset and this remained true for the past year. It was reported to get about 28.4 million Google searches worldwide, making it the most searched cryptocurrency across the internet. 

However, the following positions of second and third most searched cryptocurrencies remained popular meme coins Dogecoin (DOGE) with 5.85 million and Shiba Inu (SHIB) 4.43 million searches. Ethereum (ETH) network remained at fourth position with 3.8 million Google searches. 

Last year mostly remained one of the toughest phases for the broader cryptocurrency market. Almost every other crypto asset, including major cryptocurrencies BTC and ETH, witnessed declines in their trading prices. 

Bitcoin tumbled over 75% from its all time high of 68,789 USD in November 2021 and is currently trading at 16,749 USD. Ethereum is trading at 1,217 USD after the same 75% drop from its high of 4,891 USD. 

Nancy J. Allen
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