The second-largest cryptocurrency across the world has surpassed BTC in terms of trading volume in the first-half of this year. ETH had its cakewalk in Q2 2021 reaching its ATH of $4,357, but it has now dropped to half of its ATH at the current price.
According to the report from Coinbase, the trading volume of Ethereum is growing much faster than BTC in the first-half of the year. Moreover, the report witnesses that the first half of 2021 has been an active portion of the crypto industry.
Significantly, many crypto assets have witnessed their all-time high during this period and trading activity have also surged in volume. The crypto market experienced both highs and lows in the first six months of 2021.
The reports from over 20 exchanges, states that the trading volume of BTC surged up 489%, from $356 billion to $1.2 trillion in the first half of last year. On the other hand, ETHs trading volume surged up 1,461%, from $92 billion to $1.4 trillion in the same period. This symbolizes that ETH grows much faster than BTC in terms of the trading volume.
Price Chart of BTC Vs ETH
According to Coinbase, this is the first time in history that Ethereum’s trading pace has outpaced Bitcoin’s. Notably, Bitcoin witnessed gains in Q4, 2020, and Q1, 2021 which is right before the collapse in Q2, 2021. BTCs current trading price is 38% down from its ATH of $65,899 on April 13.
On the contrary, Ethereum’s had its cakewalk in Q2, 2021 when it reached its ATH of $4,357 on May, 12. However, the current trading price of ETH has steeply fallen to nearly 48% from its all-time high.
Moreover, many popular entities like Goldman Sachs, a major investment bank, also stated that Ethereum will outrun Bitcoin. Furthermore, Ethereum will serve as a store of value and the main asset for investors in the crypto market.
According to coingecko, the trading price of BTC and ETH has soared to 36.1% and 30.4% respectively, over the past week. Consequently, analysts and investors believe that the crypto market is gradually recovering to its original state.
Recommended for You
