The volume of daily value transfer in the blockchains of the two leading cryptocurrencies, Bitcoin and Ethereum, has reachedparity, according to a study by Messari.
</p>According to firm analyst Ryan Watkins, the explosive growth of stablecoins in the first quarter of 2020 led to this.
Unlike the Bitcoin network, in Ethereuma significant part of transactions are carried out not in the main cryptocurrency, but in ERC-20 tokens. For 12 months, the value of the assets transferred in the second cryptocurrency network per day increased from approximately $ 300 million in April last year to $ 1.5 billion.
Most of this growth is explained by the growth of stablecoins - three of the four most popular stable coins (USDT, TrueUSD and USD Coin) are mainly issued on Ethereum.
Only in the first quarter of 2020, the stablecoin capitalization grew by $ 2.4 billion, which is almost equal to the growth over the whole last year ($ 2.6 billion), noted in Messari.
Source: Messari
As a result, stablecoin transactions now account for about 80% of the daily value transfer on the Ethereum network.
Source: Messari
Recall that the total volume of stablecoin transactions for the incomplete I quarter exceeded a record $ 90 billion.
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