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Bitcoin Usage from Ethereum Surpasses PEPE Craze

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Gherardo Fiorenzo
Gherardo Fiorenzo is an Italian author with a unique perspective shaped by his experiences in Italy and the US. His thought-provoking articles, short stories, and reviews explore the intersections of language, identity, and culture.

New data from the blockchain analytics platform, Token Terminal, shows that bitcoin was two times more Daily active users from ethereum of May 8th.

Bitcoin flips Ethereum in users number

on time of writingand bitcoin Still driving the ether in terms of Daily active users.

Bitcoin has an average of 589,810 per day active users over 30 day period, while Ethereum has an average of 322,840 per day active users over Same time frame.

Token Terminal is a platform that collects financial data on leading blockchain and decentralized applications, using traditional financial key performance Indicators (KPI) to measure and evaluate performance.

while bitcoin And ethereum is popular, it offers different use cases. To clarify, bitcoin is a coin and store of value, while ether network It is a smart contract platform for Launching decentralized applications (dApps).

Blame the arrangement for bitcoin Woes, Ethereum strained by Pip

Data from Token Terminal indicates that despite the differences in they design is meant use cases, bitcoin He is currently Attract more Daily active users from ethereum.

This may be due to the variety of Factors such as bitcoin are longer history and its wider adoption, as well as its perception as more Stable and secure investment option.

However, the introduction of Bitcoin Ordinals platform and marketplace on Bitcoin’s blockchain could be it main reason for the spike in User credentials.

Through the Ordinals platform, users can attach files, such as videos, images, or texts, on All satoshi, effectively stored on main network. Satoshi is the smallest unit of a bitcoin (BTC).

In recent days, there has been a file spike in the number of Inscriptions minted from the Ordinals platform. flood overwhelmed networkresulting in higher transaction fees, even cause congestion on May 7th.

However, Ethereum remains big player It is a smart contracting platform.

Like bitcoin network flooded with ordinal inscriptions, folk of meme icons, including Pepe (PEPE) currency, have also Ethereum gas fee higher After a lull of 2022.

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