ETHEREUM TRADING VOLUME NEARLY DOUBLES AS INTEREST CONTINUES TO GROW

Posted 07 August, 2020

After a sharp rise in both the price and trading volume of Ethereum (ETH), data from Twitter and Google show that user interest in this important network has increased even further.

In the past month, the trading volume at ETH almost doubled. If you compare the average trading volume for the last 7 days in June and the last 7 days now, it is up 94% to USD 12.6 billion. Bitcoin (BTC) trading volume increased 29% to $ 20.3 billion. Looking at the real numbers, ETH received an additional trading volume of $ 6 billion while BTC reached - $ 4.6 billion.

In terms of trading volume, too, ETH is much closer to BTC than to market capitalization, Google search and tweets, where the BTC is many times larger. However, it seems that Ethereum is getting more and more attention lately.

The Google search data shows that the search interest for the term "Ethereum" has increased significantly and increased almost four times between June 30 and August 3, the last day recorded in Google Trends usage data. And although searches for the term "Bitcoin" have increased less than twice over the same period, it is still significantly more popular than "Ethereum".

Even if search interest in Bitcoin has not yet reached the highs of early May, interest in Ethereum is highest throughout the 12-month period covered.

Similarly, aggregate data from activity on Twitter also shows a more than two-fold increase in the number of tweets mentioning Ethereum, versus an approximately 10% increase in the number of tweets mentioning Bitcoin between June 30th and June 30th August 5th is mentioned. Similar to Google, Ethereum also has a few times fewer tweets related to Ethereum compared to BTC. However, ETH mentions more frequently in the past three months than it has ever been since May, while Bitcoin-related Twitter activity is still well below its May level.

In terms of pure price performance, ETH was the winner last month, with a 30-day gain of more than 66%, compared to 26% for BTC at the time of writing this report (12:25 UTC).

Similarly, aggregate data from activity on Twitter also shows a more than two-fold increase in the number of tweets mentioning Ethereum, versus an approximately 10% increase in the number of tweets mentioning Bitcoin between June 30th and June 30th August 5th is mentioned. Similar to Google, Ethereum also has a few times fewer tweets related to Ethereum compared to BTC. However, ETH mentions more frequently in the past three months than it has ever been since May, while Bitcoin-related Twitter activity is still well below its May level.

Previous story

10 August, 2020 10:04

← GOLDMAN SACHS ALLOWED THE CREATION OF ITS OWN CRYPTOCURRENCY

The head of the bank's digital assets department, Matthew McDermott, said that within 10 years the issuance of loans, the issuance of securities and the financial system as a whole will switch to blockchain, and explained the need for such changes

GOLDMAN SACHS ALLOWED THE CREATION OF ITS OWN CRYPTOCURRENCY

Next story

07 August, 2020 09:35

NEXT NEW NORMAL - HOW CORONA IS PERMANENTLY CHANGING THE INSURANCE INDUSTRY →

The corona pandemic hit the insurance industry quite unprepared in March 2020. Business has been going on since then - in economically uncertain times and under completely new framework conditions. A recent study by the Leipzig Insurance Forum shows how well this works for insurers.

NEXT NEW NORMAL - HOW CORONA IS PERMANENTLY CHANGING THE INSURANCE INDUSTRY
Write a comment
 
Prove you’re not a bot + 7 = 14