Bitcoin Addresses in Daily Use Are Now over 140 times More than XRP

The ratio of Bitcoin addresses to XRP addresses that are used on a daily bases is about 140:1. However, ETH still performs better than BTC in having balances above zero.

That means BTC is still the most popular cryptocurrency although many of its users are yet to save coins in their wallets.

According to Glassnode’s report, the ratio of Bitcoin daily usage to ETH, LTC and XRP is 3:11:140 respectively.

Bitcoin’s growth is the fastest
The number of Bitcoin accounts created daily is close to 500% above Ethereum. There may be no reason to doubt this because it was clearly observed after the Bitcoin fork that nearly 470,000 new accounts were created in just one day unlike Ethereum which recorded just about 90,000 new accounts after a similar event. Apart from creating new accounts after the fork, more money was deposited into BTC wallets to signify people’s trust in the cryptocurrency.

Can this last long?
It may, however, be reasonable to doubt if Bitcoin will continue to be people’s number one cryptocurrency choice because only about 5% of active accounts are being used to hold some coins.

The future may be Ethereum

While bitcoin accounts are being emptied, it has been observed that Ethereum is taking the lead in having positive balances. This has been noticed since February 2019 and today, there are about 10 million ETH in wallets more than BTC

With this trend, one can say that traders still prefer BTC, hence the more number of accounts on the network, while a greater number of those who don’t have much to save in cryptocurrency are the ones going for ETH.

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