Trading volumes of Ethereum, the second largest cryptocurrency, increased faster than Bitcoin in the first half of the year, according to a report by Coinbase Global, the largest US crypto exchange.
According to Arab Net looking at data from 20 major exchanges around the world, Coinbase found that Bitcoin trading volume for this period amounted to $2.1 trillion, an increase of 489% from $356 billion in the first half of last year, according to Bloomberg.
In the same period, Ethereum trading volume totaled $1.4 trillion, an increase of 1461 percent from $92 billion in the first half of 2020. This was the first period An all-time uninterrupted time in which Ethereum is trading faster than Bitcoin, according to Coinbase.
Bitcoin and Ethereum have surged in the past week after their big dips in May due to concerns about the environmental impact of Bitcoin and a regulatory crackdown in China, with Ethereum at the heart of a new cluster One of the applications that allow lending, borrowing and peer-to-peer trading.
It also faces an upgrade due around August 4th that will reduce the amount of outstanding tokens by destroying some each time they are used to feed transactions, which could lead to Increase price gains.
