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Ethereum Surpasses Bitcoin in Address Activity for the First Time

Mon, 06/28/2021 - 19:12
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Alex Dovbnya
There are now more active addresses on Ethereum than on Bitcoin
Ethereum Surpasses Bitcoin in Address Activity for the First Time
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Ethereum has outstripped Bitcoin in terms of address activity for the first time, according to data provided by cryptocurrency analytics platform Santiment.

Image by @santimentfeed

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.

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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.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at