Ethereum poised to surpass Bitcoin in terms of value transferred

The transferred value on the network Ethereum, including ethers but also the stablecoins based on its blockchain, is now very close to that on the network Bitcoin.

On Twitter, Ryan Watkins, analyst at Messari Crypto, reported that the second cryptocurrency in the market in terms of market capitalization had just reached parity with Bitcoin in terms of transferred value.

The first quarter of 2020 was thus the “best quarter of all time” for the network Ethereum, especially thanks to the success of some stablecoins. Several important stable parts, as USD Coin, are indeed based on its blockchain.

In the midst of the coronavirus pandemic, the broadcast of stablecoins soared more than $ 8 billion in the quarter. Stablecoins added almost as much market capitalization in Q1 2020 as they did throughout the year 2019, ” added Watkins.

The stablecoins now represent 80% of the value transferred daily to Ethereum. Used by crypto-traders to protect themselves from volatility, stablecoins would also record larger transfers on average than Bitcoin.

Tether is the biggest beneficiary of the volatility of T1. The native stable parts of Coinbase (Circle), Binance and Huobi also benefited greatly this quarter. The Stablecoins are poised to quadruple their growth in 2019, which could bring an influx of new liquidity to the ecosystemEthereum, ”He concluded.

New York-based data provider specializing in cryptocurrency Messari raised $ 4 million during a fundraiser completed by Coinbase last fall.