• Ethereum has been leading the blockchain segment in terms of daily transactions, outperforming Bitcoin by almost double.
• Dogecoin has been outperformed by Bitcoin seven-fold in daily transactions.
• Despite this, Bitcoin’s overall transaction count has improved over the past six months and network fees have dropped off substantially in the last two months.
IntoTheBlock recently released data comparing Bitcoin’s daily transactions with those of Ethereum [ETH], Algorand [ALGO], and Dogecoin [DOGE]. According to the report, Ethereum has been leading the blockchain segment in terms of daily transactions. It has reportedly outperformed Bitcoin by almost double.
Dogecoin Vs. Bitcoin
IntoTheBlock revealed that Bitcoin’s daily transaction count has outperformed Dogecoin seven-fold. Despite the above findings, Bitcoin’s transaction count has achieved an overall improvement in the last six months. It peaked at 682,099 BTC at the start of May but has since dropped to 478,176 BTC, according to the latest data.
According to Glassnode, fees have dropped off substantially in the last two months. Bitcoin network fees are now back to levels seen in Q1 and for a good reason – The fees spiked towards the end of April and peaked in May before dropping again. This peak was short lived but it was around the same time that we saw a spike in miner revenue as well.
In conclusion, despite Ethereum leading over other blockchains such as Dogecoin and Algorand when it comes to daily transactions;Bitcoin is still seeing improvements on its own network – which was highlighted through its increased transaction count over 6 months ago and recent drop off on network fees due to a brief spike back in April and May this year.