The total number of transactions on the Ethereum network exceeded that of Bitcoin by more than four times, but Bitcoin was the most sought-after cryptocurrency in 2022.
The Ethereum network eclipsed Bitcoin in terms of total transaction volume last year, although BTC managed to continue to dominate online search interest.
According to Nasdaq and Ycharts data shared on Reddit, Ethereum had 338% more total transaction volume in 2022 than Bitcoin.
However, transaction volumes on the Bitcoin network were more stable and periodic than Ethereum, which showed much greater volatility in transaction volumes. This is due to peaks in demand at certain times like NFT launches and other events that cost high gas fees like XEN mining.
Ethereum’s higher transaction volume continued into the new year, with the number of ETH transactions reaching 924,614 on January 2. This is a 300% increase from BTC’s 229,191 on the same day, according to Bitinfocharts.
The analyst who released the metrics said he was skeptical of people who say a reversal could ever happen. He added that those who campaign now have a purpose.
Rollover occurs when a chain outperforms a higher ranked chain for the same metric, in this case transactions and activity.
The charts also do not include Layer 2 transactions, which would place Ethereum even further than Bitcoin for this metric. According to L2beat, L2 transactions per second (TPS) topped Ethereum Layer 1 in mid-October and has remained above it ever since.
While Ethereum may be ahead in terms of transactions and activity, Bitcoin remains the most searched cryptocurrency on the internet.
In the latest In Bitcoin We Trust newsletter, it was revealed that BTC got the most attention in the Google search engine in 2022 with 28.4 million monthly Google searches worldwide.
Ethereum ranks 4th in Google searches and performed 3.8 million monthly searches globally, according to the data.
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