As the second largest cryptocurrency in the world, ethereum has experienced impressive growth in 2020. Since the beginning of the year, the price of the cryptocurrency has risen by a remarkable 230%, attracting more and more investor attention in times of economic uncertainty. caused by the Covid -19 outbreak.
According to data presented by AksjeBloggen.com, ethereum was the most traded cryptocurrency in the third quarter of 2020, with 1.1 million average daily transactions, 3.5 times more than bitcoin.
As the leading cryptocurrency in the world, bitcoin witnessed over 319,000 average daily transactions between June and September, CoinMetrics data revealed. Other major cryptocurrencies saw less than a tenth of Ethereum’s daily volume. Litecoin ranked third with 56,000 average transactions per day over this period. Dash, bitcoin cash and monero followed with 25,100, 17,200 and 12,000 daily transactions respectively.
Data from BitInfoCharts revealed that the number of ethereum transactions has increased significantly since the beginning of the year. In the first quarter of 2020, the number of average daily transactions was 537,900. After a slight decline to 463,100 in March, transactions continued to rise in the following months.
Statistics show that the number of Ethereum transactions per day increased by 610,000 between June and September, a jump of 131% in three months.
In addition to impressive growth in price and number of transactions, ethereum has also seen an increase in market capitalization since the start of the year.
As of December 2019, the combined value of all ethereum coins was $ 14.3 billion, data from CoinMarketCap revealed. After peaking at $ 30.8 billion in February, Ethereum’s market capitalization plummeted 58% to $ 12.7 billion in the second week of March.
However, the second largest cryptocurrency in the world has rapidly rebounded, with market capitalization climbing back to $ 25.2 billion in June.
The upward trend continued in the third quarter of 2020, with the combined value of all ethereum coins in circulation peaking at $ 53.8 billion in September, a 102% jump in three months. Statistics show that the market capitalization of the second largest cryptocurrency in the world stood at $ 50 billion at the end of last week, nearly 150% up from the previous year.
