Bitcoin Remains Ahead of Ethereum in All Key Network Metrics – CryptoMode

It is often pointless to compare Bitcoin and Ethereum as both networks operate at very different levels. Nevertheless, it can be worthwhile to check important network values ​​such as transaction value, hashrate changes, mining profitability and total number of transactions. Bitcoin leads on most fronts, which is not so surprising.

Bitcoin dominates Ethereum on most fronts

As the legacy network, Bitcoin has a distinct advantage over all other blockchains that came after it. Being the most secure network and having the highest market value are just two outcomes of the dominant position. Still, Ethereum has about half the market capitalization of Bitcoin, even though the network lags behind in almost every important statistic.

Bitcoin has a very curious metric in terms of value sent per 24 hours. BitInfoCharts calculates this amount in relation to the market value. To humans, it may seem scary to see that Bitcoin has over 10% of its market value transferred over the network in 24 hours. However, it is a healthy statistic, while Ethereum only notes 1.15%. Also, Bitcoin saw over $42 billion transferred across the network in one day, while Ethereum stayed below $2.5 billion.

Also, Bitcoin has beaten Ethereum in terms of value sent over the network per hour and average transaction value. Bitcoin has an average of $1.76 billion per hour and an average TX value of just over $162,000. Ethereum notes under $100 million sent per hour and an average transaction value of $2205. More than respectable numbers for both networks, but it’s impossible to ignore this huge gap.

Furthermore, the bitcoin network saw a healthy hashrate increase of 7.65% in the last 24 hours. Ethereum’s hashrate also increased, but only by 1.03%. Not entirely surprising since the network will transition to proof-of-stake in a few weeks. Only time will tell if PoS offers adequate network protection, but there is no need to worry about that aspect.

Ethereum has far more transactions

An interesting difference between the two networks is that Ethereum has far more daily transactions. The network surpasses 1 million network transfers with relative ease. On the other hand, Bitcoin is stuck at 261,000, which is still more than decent. It seems unlikely that Bitcoin will surpass 1 million transfers without scaling solutions like the Lightning network, but you never know what the future may hold.

However, the higher number of daily transactions is not due to more active addresses. Bitcoin still has a solid lead – 795,303 to 692,617 addresses – which is a bit odd. It’s also worth pointing out that the Ethereum blockchain is slowly approaching Bitcoin in size, at 345.17 GB vs. 490.48 GB. Ethereum has much faster block times, which will contribute to overall chain growth.

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