For the first time since January 2018, Bitcoin averaged more than a million daily active addresses.
Ethereum also, according to Coin Metrics, is averaging 626,000 daily active addresses, so it is about to reach its all-time high of 737,000 addresses that was set on January 16, 2018.
The demand for the block space is rising, which has caused the growth of the transaction fees. Although, the Ethereum network generated more from the transaction fees than the Bitcoin network in the past week.
“ETH averaged almost $2M worth of daily fees over the last week and is still outpacing BTC. But BTC is catching up, as BTC daily transaction fees grew 67.4% week-over-week compared to a 28.7% growth foR ETH,” says the report.
Bitcoin and Ethereum Hit 2020 Market Cap Highs!
Bitcoin’s market cap at the time of writing is $217 Billion, while Ethereum has a market cap of $43 Billion, which are 2020 new highs after breaking past the pre-march levels.