As part of the 100th issue of the weekly newsletter “State of the Network” produced by Coin Metrics, the blockchain analytics firm published a series of data that has marked milestones in the Bitcoin and Ethereum networks in the last 100 days.
“We have compiled 100 statistics on crypto data that include a combination of chain data and market data, all obtained from our internal analysis,” the team notes in its April 27 post.
According to the figures reported by the firm, the two networks registered the highest transaction fees in their history. In Bitcoin it happened on April 20, when the average commissions were $ 60.9. This in the midst of the congestion that the network registered that week, as reported by CriptoNoticias.
Meanwhile, Ethereum’s all-time highest average transaction fee was recorded on February 23, when the network’s commissions hit $ 38.
Complaints about the increase in commissions on this network date back several months, but certainly for February there was a significant increase. This is where many of the ongoing debates in the community, and mainly among miners, derive from the EIP-1559 improvement proposal, which seeks to reduce rates.
Other figures from these three months that Coin Metrics highlights have to do with both the fees and the size of the transactions.
In that sense, the average Bitcoin fee in 100 days is $ 20 while the average transaction size is $ 30,360.
On Ethereum the average transaction fee is $ 16 and the size averages $ 15,660.
The 100 pieces of Coin Metrics data also include those related to active addresses.
Bitcoin has averaged 1.12 million daily active addresses for the last 100 days.
Ether (ETH) has averaged 610,740 daily active addresses in the same span.
The data list of the analysis firm also takes into account the revaluation of cryptocurrencies in the study period:
$ 100 invested in bitcoin (BTC) 100 days ago would be worth $ 135 today.
$ 100 invested in ETH 100 days ago would be worth $ 186 today.
$ 100 invested in Uniswap (UNI) 100 days ago would be worth $ 401.
$ 100 invested in Dogecoin (DOGE) 100 days ago would be worth $ 2,742.
Analysts also recall that in these 100 days Bitcoin has generated more than USD 2 billion in transaction fees. In that same time, Ethereum has generated more than $ 3.17 billion for the same concept.
“The average daily inflow of BTC to major exchanges (excluding Coinbase) was approximately over 1.4 billion,” according to Coin Metrics.
On the contrary, the average daily output of exchange houses was slightly higher, reaching USD 1.46 billion.
Holdings in bitcoin and Ethereum also increased
The statistics continue with more information of interest during these 100 days, among them the holdings that are maintained in BTC and ETH addresses:
More than 9 million addresses have at least 0.01 BTC.
There are more than 800 thousand addresses with at least 1 BTC.
Some 2,242 addresses have at least 1,000 BTC.
More than 14 million addresses have at least 0.01 ETH.
More than 1.2 million addresses have at least 1 ETH.
1,308 addresses have at least 1,000 ETH.
Coin Metrics’ list is extensive, highlighting various loose data from other networks, including stablecoins, whose total supply could exceed 100,000 million before the end of the year, as reflected in the following graph
It is worth remembering that in the same period of one hundred days that analysts evaluate, the prices of the two most important cryptocurrencies in the market have exceeded their historical maximums several times.
In this way, after having exceeded its maximum of USD 20,000 in 2017, the pioneering cryptocurrency has continued to rise, reaching USD 50,000 in February, and USD 60,000 in this month of April.
Something similar happens in Ethereum, which broke the $ 1,500 barrier in February. The rise has been maintained in the last two months and the price already exceeds USD 2,000. All this within the same 100 days that Coin Metrics reports.