Ethereum has outstripped Bitcoin in terms of address activity for the first time, according to data provided by cryptocurrency analytics platform Santiment.
Earlier today, Ether hit a one-week high of $2,135 on the Bitstamp exchange.
The second-largest blockchain is seeing an uptick in activity in the run-up to the much-anticipated the EIP-1559 upgrade that is expected to be implemented in the coming weeks.
In the meantime, Bitcoin’s active addresses are sitting at the lowest level since February.
The cryptocurrency is struggling to regain momentum after bulls failed to smash through resistance at $35,000.
The ETH/BTC pair is now in the middle of an apparent trend reversal, soaring by nearly 7 percent over the past 24 hours.
Jim Cramer turns to Ether
After getting out of Bitcoin and announcing that he would only buy it at $10,000, CNBC host Jim Cramer said that he would continue to buy Ethereum.
The superstar stock picker likes Ethereum more because people use it “much more” for buying things:
I went back into Ethereum because Bitcoin held $30K. I like Ethereum because people actually use it much more to be able to buy things.
Godfrey Benjamin
Arman Shirinyan