Even though both Bitcoin and Ethereum have seen a marginal (more than marginal in case of Ethereum) weekly grow in their asset value, they both have been struggling for quite a while for now. However, in a positive news for Ethereum and Altcoin supporters, Ethereum has beaten Bitcoin on this particular metric for the first time ever.
According to the Santiment, a data collection company, Ethereum address activity has finally surpassed the address activity of Bitcoin and now it is above Bitcoin address activity for the very first time ever.
Even though the valuation of ETH address activity has fallen down in general since it is correlated with Bitcoin which is going through a underwhelming period itself, it still has surpassed Bitcoin address activity and that is a very positive and welcoming news for crypto enthusiasts.
Santiment tweeted :
Following up on yesterday’s report on #Ethereum #FUD and the buy opportunity we saw, today has marked a historic day – For the first time in #crypto history, $ETH address activity is ABOVE $BTC address activity, as prices have soared back above $2,100. https://t.co/577N726RLL https://t.co/BSleSWdGID pic.twitter.com/eG5GrpYNBp
— Santiment (@santimentfeed) June 28, 2021
However, there have been mixed but mostly positive sentiments among Altcoin community after receiving the data from Santiment.
Some feel that Ethereum now has the potential to catch up or even get ahead of Bitcoin someday in the future which is why one should increase the share of Ethereum in his/her portfolio while a lot of the crypto fanatics believe that this comparison means nothing.
Meanwhile the fact that Ethereum has recovered and crossed over the mark of $2100 shows that the surge in address activity has given some faith to the Ethereum investors and traders.
This, along with the EIP-1559 update which has gone live on Goerli Testnet just a few hours back have the potential to push the prices further up in the upcoming days.
There is Rinkeby testnet update as well, standing in queue and waiting to be activated in a week’s time.
The major market sentiment towards Ethereum is at its all time low at the moment. Even though it is number two, just after Bitcoin in terms of Total Market Cap, people have started to trust other Altcoins (preferably Cardano) a lot more off late.
Ethereum maximalists and enthusiasts would hope that this surge in address activity works like an investor magnet to pull the masses back to Ether pretty soon.