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The stakers of the genesis of Ethereum 2.0 pushed the total number of Ethereum nodes beyond the number of Bitcoin nodes for the second time this year.
According to Ethernodes.org, 11,259 Ethereum nodes are currently active, giving it a roughly 1% lead over Bitcoin’s 11,136. Ethereum’s node count last surpassed that of Bitcoin in early September.
The number of Ethereum nodes has increased by more than 50% in the last two weeks or so, peaking from 8,086 on November 15 to 11 days after the Eth2 deposit contract went live. Ethereum’s node count surpassed that of Bitcoin on November 30.
According to the Blockchain Center’s “Flippening” index – which seeks to monitor the strength of the Ethereum network versus Bitcoin – the increase in node count has seen the index rise from 50.5% to 62.4% during November.
According to the index, node count is the third major on-chain metric Ethereum has currently “flipped” Bitcoin on, along with transaction count and transaction fees.
Etherscan estimates that Ethereum has processed nearly 1.2 million transactions in the past 24 hours, compared to Bitcoin’s 300,000. Ethereum also processed transaction fees worth $ 3.6 million in the past 24 hours, while Bitcoin fees were worth nearly $ 1.4 million.
The Flippening Index estimates that Ethereum recorded a two-year high of 67.68% per strength compared to Bitcoin in early September due to the third quarter DeFi boom.
The genesis of the Eth2 beacon chain will kick off in a few hours from today. The launch of the depository agreement allowed ETH holders to designate their Ethereum for staking, with the 524,288 Ether required to initiate the launch of the beacon chain which was passed just hours before its expiration on November 24.
According to Beaconcha.in, 878,808 Ether have now been sent to the deposit agreement. The genesis of the beacon chain will lay the foundation for sharding and proof-of-stake.
