There are a number of indicators that can be used to determine how popular a crypto-Asset is. Transaction number and Hash Rates are common.
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Ethereum trumps Bitcoin in the revenue of transaction fees
Ethereum übertumpft Bitcoin, but only in the case of taking the transaction fees and only short! During yesterday’s big revival of the Altcoins has Ethereum taken in the course of 24 hours more in fees than its big brother. The Ethereum rate reached 215 $ its highest level in over a month, while Bitcoin was moving yesterday in the low $10,000 to area. Anthony Sassano, Product Marketing Manager at SetProtocol, made the observation as a potential measure of demand.
“Do you know what is even more striking in this picture? The fees for the other block chains come close to Bitcoin & Ethereum is not even, indicating to me that there is practically no demand for these other platforms.“
Ethereum flipped Bitcoin in daily fees today – yay ?
You know what’s even more striking about this image? The fees paid on the other block chains don’t even come anywhere close to Bitcoin & Ethereum which signal to me that there is practically zero demand for these platforms. pic.twitter.com/d7jlJxKOJQ
— Anthony Sassano (@sassal0x) 18. September 2019
To the question of transaction volume for many other Altcoins high, added to the ETH-developers that they can easily be faked, and he is willing to bet that 99 per cent of this TRANS-action volume of Arbitrage between exchanges.
High fees are not necessarily a good thing, especially for something that aims to replace banks, and the current slow and expensive global money system. Low fees and fast transaction speeds should be the main goal of any Form of digital money.
What is the Hash Rate?
The Hash Rate is usually the most important metric for the network state, because this describes the entire computing power in the network. For Bitcoin, it looks ideal with another new all-time high a few days ago at 99.0894 EH/s in accordance with bitinfocharts.com.
The step demonstrates the strengthening of the network in spite of a long period of price consolidation. Daily BTC transactions are also among the highest for over a year, with more than 360,000 transactions per day.
The Ethereum-Hash-Rate is also impressive, with almost 200 TH/s, the highest value in the year 2019. The transactions are under the highest level of 2018 and this year’s rally at 730k, but the network still seems healthy.
These ratios will change for Ethereum expected to be significant, if ETH 2.0 and the new consensus model will be introduced at the beginning of next year.
Text evidence: bitcoinis, Martin Young