Messari estimates that Ethereum’s daily transaction volume is currently 28% higher than that of Bitcoin.
According to crypto analytics firm Messari, the daily transaction volume on the Ethereum (ETH) network is 28% higher than Bitcoin (BTC).
On January 19, Messari’s Ryan Watkins tweeted that the daily transaction volume of Ethereum “became parabolic”, a chart showing that Ethereum and Ethereum-backed stablecoins have processed $ 12.3 billion in the past 24 hours.
Ethereum's daily transaction volume is going parabolic.
It now settles $12 billion in transactions daily – $3 billion more than Bitcoin.
— Ryan Watkins (@RyanWatkins_) January 19, 2021
The data excludes ERC-20 transactions that are unstable for Ethereum to avoid double counting of DEX volumes.
Ethereum surpasses Bitcoin, according to Blockchain Center’s “Flippening Index”, which uses eight key metrics to track whether the Ethereum network surpasses Bitcoin in terms of size and efficiency.
Blockchain Center’s data shows that Ethereum has not yet exceeded the transaction volume of Bitcoin, while the Flippening Index states that Ethereum has already beat Bitcoin with the number of transactions and total transaction fees.
What does the data say?
The data also shows that Ethereum has had 94% nodes count after briefly traversing Bitcoin several times in recent months.
Despite building momentum for Ethereum, the index shows Google search volume is only 14% compared to Bitcoin and Ethereum’s market cap is only 21% of Bitcoin. However, Messari estimates that the entire Ethereum ecosystem is worth $ 212 billion.