On-chain analytics start-up IntoTheBlock reports an on-chain activity spike thisweek as Bitcoin and other cryptocurrencies rallied to new yearly highs.
As a result, the Bitcoin network saw a large increase in transaction fees, surpassing Ethereum’s total fees. In this comparison, Bitcoin fees increased by 60%, while Ethereum fees increased by nearly 50%.
On-chain activity spiked this week, with Bitcoin fees increasing 60%+ and Ethereum fees increasing by nearly 50%. pic.twitter.com/H2kFC6iQge
— IntoTheBlock (@intotheblock) December 8, 2023
A combination of factors appears to be driving the increase in network fees for Bitcoin, including a Bitcoin price climb that saw the cryptocurrency reach yearly highs of $45,000 on Dec. 5 before settling above $43,000, where it presently traded, and an uptick in Bitcoin Inscriptions, which increased demand for network capacity.
Because of the popularity of inscriptions, the cost of sending a Bitcoin transaction has risen.
Bitcoin’s total fees for the week amounted to $43.8 million, representing a 61.4% increase. Ethereum total fees amounted to $83.3 million, which represents 48.3% growth, according to IntoTheBlock data.
In today’s trading, Ethereum surpassed Bitcoin in daily gains, reaching new yearly highs of $2,390. ETH went up 4.58% in the last 24 hours to $2,360 at the time of writing. In this time frame, Bitcoin was only up 1.26% to $43,937.
Despite its recent bullish climb to new yearly highs, IntoTheBlock sees a worrying indication for Ethereum. It observes that Ethereum is not experiencing a major surge of new users, as the number of new addresses and the new adoption rate show no significant spikes.
Despite this, Ethereum is the only major layer-1 network where the percentage of supply held by whales has increased significantly. According to IntoTheBlock, whales now hold 35% of the ETH supply, up from 22% in January.
order cheap clomiphene without prescription clomid without rx order generic clomid without insurance clomid tablete where to get clomid without prescription how to get generic clomid without prescription buying clomiphene without dr prescription
This is the gentle of scribble literary works I rightly appreciate.
The reconditeness in this ruined is exceptional.
azithromycin usa – floxin 400mg cheap metronidazole 200mg ca
semaglutide online – buy semaglutide 14mg generic periactin 4 mg for sale
purchase motilium pills – order sumycin 250mg generic buy cyclobenzaprine 15mg generic
how to buy propranolol – methotrexate 10mg usa purchase methotrexate online
purchase amoxil – order ipratropium 100mcg pill order combivent 100 mcg pills
generic zithromax 250mg – bystolic drug buy bystolic online
order amoxiclav – https://atbioinfo.com/ buy ampicillin for sale
purchase nexium generic – anexa mate order nexium
order medex – https://coumamide.com/ cozaar without prescription
meloxicam 15mg canada – https://moboxsin.com/ order meloxicam 15mg
deltasone ca – apreplson.com prednisone 10mg oral
where to buy otc ed pills – https://fastedtotake.com/ ed pills online
order fluconazole generic – this forcan pill
buy cheap cenforce – https://cenforcers.com/ cost cenforce 50mg
tadalafil citrate research chemical – cialis without prescription cialis manufacturer coupon lilly
ranitidine 300mg generic – https://aranitidine.com/# cheap zantac 300mg
cialis and melanoma – best price cialis supper active cialis generic best price that accepts mastercard
Greetings! Extremely serviceable suggestion within this article! It’s the petty changes which will obtain the largest changes. Thanks a lot towards sharing! kamagra efectos
buy legal viagra – https://strongvpls.com/ sildenafil 50
Thanks on putting this up. It’s well done. buy azithromycin 250mg online
This website positively has all of the bumf and facts I needed adjacent to this case and didn’t identify who to ask. https://ursxdol.com/levitra-vardenafil-online/
I’ll certainly bring to be familiar with more. https://prohnrg.com/
This is the kind of topic I enjoy reading. acheter xenical 120 mg pas cher
Thanks towards putting this up. It’s evidently done. https://ondactone.com/simvastatin/