NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Price Slips Below $108,000: Peter Schiff Anticipates ‘Brutal’ Bear Market, CZ Responds

Crucial Ethereum On-Chain Data Suggests a Top For Altcoins is Forming

Yashu Gola
Yashu Gola
5 years ago
3 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

  • Volume on Ethereum blockchain is rising faster than Bitcoin for the last three months, according to data fetched by Santiment.
  • The second-largest cryptocurrency is leading a pack of top 100 altcoins with better on-chain metrics than that of Bitcoin.
  • Observers note that a swift rise in altcoin volumes forms a local price top.

Ethereum, the world’s second-largest cryptocurrency by market capitalization, is witnessing rapid growth in its volume and daily active addresses.

According to data aggregator Santiment, the top altcoin’s daily transactional throughput via its blockchain has surged by more than 20,000 percent since March 27, 2020. In comparison, Bitcoin’s on-chain volume increased by close to 17,500 percent.

Santiment also reported a similar spike in the number of daily active addresses. They refer to digital wallets that debit/credit cryptocurrency tokens on a day-to-day basis. The portal noted that Ethereum’s active wallets rose by just below 20,000 percent since March 27.

At the same time, Bitcoin’s surge in active wallets fell shorter than that of Ethereum.

Altcoins Outrun Top Cryptos

The aforementioned three-month period also saw altcoins (barring Ethereum) ranking higher on their on-chain metrics.

Santiment reported that the top 100 altcoins by market capitalization reported higher volume than Bitcoin and Ethereum. The red wave in the chart below represents the transactions throughput via altcoins’ blockchains that unitedly surpassed the top two tokens.

ethereum, bitcoin, altcoin, cryptocurrency, crypto

Altcoin volumes outrun Ethereum and Bitcoin. Source: Santiment

Santiment noted from previous fractals that a steadily rising volume in the altcoin market typically prompts these tokens to form a top. The portal was also referring to Ethereum – also an altcoin.

“When altcoin volume begins rising swiftly, local tops have tended to form,” it said on Friday. “In spite of the avg. altcoin volume rising faster than ETH, the [daily active addresses] rise for Ethereum has outpaced the [altcoins]. This could be a sign of long-term bullishness for ETH.”

Ethereum Paves the Way

Santiment’s analogy drew inspiration from a common perception that equates rising on-chain activity with the increasing demand for cryptocurrency.

Meanwhile, a limited supply of these altcoins ensures that their underlying rates would head higher as long as more people transact value via their blockchains.

ethereum, cryptocurrency, ethusdt, ethusd, altcoins

Ethereum price chart showing it trading 76% higher on a year-to-date timeframe. Source: TradingView.com

Ethereum price has surged by 76 percent on its year-to-date timeframe, becoming one of the most profitable altcoins into 2020. The gains have partially followed Ethereum’s increased usage in stablecoins and decentralized finance (DeFi) projects.

Ryan Watkins, research analyst Messari, discussed it elaboratively in a report published in May 2020.

He noted that stablecoins now account for 80 percent of their total value settled on Ethereum, adding that it would settle more than $530 billion stablecoin transactions by the end of 2020.

Meanwhile, according to the latest readings from DeFi Pulse, the DeFi projects have locked about $3.1 million worth of Ethereum as collateral. It attests that the number of lenders looking to utilize ETH to earn yields are rising.

“ETH, being the native asset of Ethereum, is by far the most trust-minimized asset available on the Ethereum blockchain, and it is for this reason that ETH is the reserve asset for Ethereum financial system (DeFi), collateralizing many of the most popular DeFi applications today,” said Mr. Watkins.

That ensures higher volumes and more active addresses for the cryptocurrency. Meanwhile, its technological influence on top altcoins would mean that their adoption would rise in tandem, as well.

Tweet123Share196ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin

Bitcoin Holding Above Gaussian Channel, Bull Market Structure Still Intact

Bitcoin is trading around $107,000 after its recent flash crash, maintaining stability to prevent further decline but is yet to...

Scott Matherson 11 hours ago
XRP

XRP Wallets Holding Over 10,000 Tokens Hit Record High Amid Price Recovery

XRP has shown some signs of recovery over the past 48 hours, climbing about 5.3 % from its recent low,...

Scott Matherson 14 hours ago
Ethereum

Ethereum Kimchi Premium Spikes To New High — Sign Of Impending Sell-Off?

The price of Ethereum appears to be recovering nicely over the weekend after a period of investor uncertainty. The “king...

Opeyemi Sule 16 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

XRP

$3M In Stolen XRP Tracked — But Victim May Never See It Again: Investigator

Christian Encila 18 minutes ago
Ethereum Solana news

Ethereum And Solana Flash ‘W Bottoms’: Bollinger Returns With Legendary Call

Jake Simmons 1 hour ago
Ethereum Price Reaches Resistance

Ethereum Price Reaches Resistance — Breakout Could Signal Fresh Upside Leg

Aayush Jindal 7 hours ago

Premium Sponsors

Press Releases

  • Top 3 Altcoin

    Những Alt Coin tiềm năng sắp bứt phá khi các...

    5 minutes ago
  • ChatGPT finds an unknown x1000 crypt

    “Có thể biến bạn thành triệu phú trong 24...

    12 minutes ago
  • イーサリアム 今後の価格動向:$4,232のレジスタンス再試し後に下落、しかし新興格安仮想通貨が10倍の可能性

    イーサリアム...

    1 day ago
  • ビットコイン 今後の価格見通し:下降トライアングル崩壊後、10万5,000ドルを下回る可能性はあるか?

    ビットコイン...

    1 day ago
  • シバコイン 今後はどうなる?価格予測と3日後に終了する注目プレセール

    シバコイン...

    1 day ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.