ETH 2.zero Contract Exceeds 6 Million Ether, Information Reveals Ethereum Outperformed BTC in Q1 and Q2 – Blockchain Bitcoin Information

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Statistics show that the Ethereum 2.0 deposit contract exceeded 6 million ethers this week, as Ethereum worth more than $ 12.4 billion is held in the contract today. Onchain metrics show that Ethereum has seen some significant declines recently and decentralized finance (defi) activities have slowed compared to last summer’s statistics. Despite the onchain slumps, Ethereum markets outperformed Bitcoin in Q1 and Q2 this year.

Ethereum 2.0 contract now includes 6 million ethers valued at $ 12.4 billion, onchain ether statistics slide

Lately, the Ethereum (ETH) network has come under heavy scrutiny as the Ethereum 2.0 deposit contract now covers more than 6 million ethers. In the meantime, Ethereum participants are preparing for the much-anticipated EIP1559 upgrade and the London hard fork.

ETH 2.0 contract exceeds 6 million ethers, data shows Ethereum outperformed BTC in Q1 and Q2Statistics from Glassnode and researcher Lars Hoffmann show that the onchain dips in the Ethereum network and defi activity have slowed recently. “Despite declining volumes, the monthly growth is growing year-on-year [decentralized exchange] Volume stays up to 5600% +. The volume has consolidated around the daily level of USD 2 billion, with considerable swings in times of increased volatility, otherwise silence, ”reported the study notes from Glassnode Well, the mainnet fork will follow. With more than $ 12.4 billion in the ETH 2.0 contract, a newly released report from Glassnode shows that defi activity has decreased significantly, but growth remains strong from an overall perspective.

“The growth of new and existing activity throughout the Defi has taken a blow as many attendees move into a risk-free mindset amid -60% + slumps in ATH on most governance tokens. While the on-chain activity is no longer increasing in% compared to the previous month, the growth compared to the previous year remains massive, ”according to the Glassnode-Defin study.

ETH 2.0 contract exceeds 6 million ethers, data shows Ethereum outperformed BTC in Q1 and Q2Even with the onchain drawdown data from Glassnode and Lars Hoffmann, Ethereum still outperformed Bitcoin in the first and second quarters of this year.

Although Ethereum has managed to make bigger profits compared to other crypto assets and climb back above the $ 2,000 handle, research shows the network has seen some large onchain drawdowns. Lars Hoffmann of The Block Crypto, for example, shared some insights into Ethereum’s onchain activities via Twitter on July 1st.

“As expected, most of the metrics had strong drawdowns (with ETH metrics having a higher beta),” tweeted Hoffmann. “While we’re assuming a high YoY level, the parabola is broken for most metrics. Total adjusted on-chain volume decreased 46.6% to $ 572.7 billion. “Hoffmann added:

As for [ethereum] Futures volumes fell 49.3% to USD 862 billion. [Ethereum] Monthly option volume declined 68.8% to $ 5.19 billion, but is still higher than ever in the first quarter.

Ethereum Active Address and market metrics are still outshining Bitcoin in 2021

In addition to the noticeable drawdowns, there were some positive Ethereum metrics in addition to the 6 million Ethers that are tied to the ETH 2.0 contract. For example, the ether supply on the exchanges is the lowest since November 2018. The report from Glassnode shows that defi-gas prices have fallen significantly recently.

“Starting in 2020, gas prices have returned to the level of the early Defi summer, so traders who are willing to be patient can even get away with a single-digit Gwei gas fee outside of business hours,” explains Glassnode’s Defi study.

ETH offer on exchanges lowest since November 2018 👀 pic.twitter.com/rQiGQeSb4N

– Documentation from Ethereum 🦇🔊 (@DocumentEther) July 2, 2021

The latest findings on the crypto market from Unfolded.io show that the Ethereum network closed on Sunday 27. This was only the third day since January 1, 2017 when ETH had more active addresses than BTC. “

In fact, the data from Unfolded.io show that Bitcoin recorded its “worst Q2 performance in over 8 years” and “despite high correlation with Bitcoin, outperformed Ethereum BTC in Q1 and Q2”. As of Friday, Bitcoin dominance is around 45.7%, while Ethereum dominance is around 17.6% of the total crypto market cap of $ 1.358 trillion.

What do you think of the 6 million Ethers included in the Ethereum 2.0 contract? What do you think of Ether outperforming Bitcoin in Q1 and Q2 this year? Let us know what you think on this matter in the comments below.

Tags in this story

Bitcoin, BTC, DeFi, Dominanz, ETH, Ether, Ether Stats, Ethereum, fees, glassnode, Lars Hoffmann, Onchain Dominance, Onchain Research, Onchain Revenue, Revenue, Unfolded.io

Photo credit: Shutterstock, Pixabay, Wiki Commons, Glassnode, Unfolded.io,

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