Bitcoin vs Ethereum: Which Holds Higher Growth Potential? Latest Data!

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• Last week, the price movement of Bitcoin (BTC) remained calm. However, it has now surpassed the $40,000 level, indicating a potential path for recovery.
• Bitcoin’s total market cap remained at $828.78 billion, and the Open Interest (OI) for Bitcoin was reported at $17.98 billion.
• The whale participation rate was determined to be 2.31%. Currently, 82.45% of Bitcoin holders are ‘in profit,’ indicating a positive return on investment.

What do the latest reports say about Bitcoin and Ethereum? IntoTheBlock highlights the decrease in total transaction fees!

On-Chain Reports for Bitcoin and Ethereum

Last week, the price movement of Bitcoin (BTC) remained calm. However, it has now surpassed the $40,000 level, indicating a potential path for recovery. Ethereum (ETH) also experienced significant losses throughout the week, but it has now managed to neutralize its situation. According to data on Saturday, Bitcoin’s price stood around $42,200, with a daily percentage increase of 1%.

The trading volume of crypto derivatives significantly decreased, dropping by 55% to $21.50 billion. However, Bitcoin’s total market cap remained at $828.78 billion, and Bitcoin’s Open Interest (OI) was reported at $17.98 billion. Liquidations in the last 24 hours exceeded $13.37 million, indicating selling pressure.

In comparison, Ethereum traded at a price near $2,280 and modestly achieved its daily increase. The traded volume nearly halved to $8.44 billion, and the total market cap was $275.03 billion. Ethereum’s OI was at $7.79 billion, with liquidations totaling $4.35 million.

IntoTheBlock‘s data provides informative details about the two cryptocurrencies. Bitcoin’s total transaction fees decreased by 39.08%, reaching $25.93 billion, indicating a decrease in high-value transactions. Daily active addresses increased by 7.76%, reaching 979,300, reflecting an increase in user activity.

The balance of account holders slightly rose to $581.26 billion. Particularly, exchange net flows decreased significantly by 129.87%, reaching a negative value of -$71.71 million. The whale participation rate was determined to be 2.31%. Currently, 82.45% of Bitcoin holders are ‘in profit,’ indicating a positive return on investment.

For Ethereum, the significant trading volume also decreased by 49.58% to $2.14 billion. Daily active addresses increased by 9.94%, reaching 595,640. The balance of Ethereum account holders rose to $218.04 billion. Exchange net flows dramatically decreased by 405.1%, reaching a negative value of -$96.24 million. The whale participation rate for Ethereum is significantly high at 36.89%, and 71.70% of holders are ‘in profit,’ indicating a positive return on investment.

The decrease in total transaction fees for Bitcoin and Ethereum suggests a relatively reduced trading interest from investors. Negative exchange net flows for both indicate that users are withdrawing their assets from exchanges. IntoTheBlock also noted that both Bitcoin and Ethereum experienced more than a 30% decrease in transaction fees, attributing it to a decrease in market volatility and less urgency for transactions among users.

What are analysts betting on?

Crypto analyst Michaël van de Poppe stated in a post, “I personally believe that Ethereum will surpass Bitcoin in the coming period, and it has started with the ETF approval.” Van de Poppe highlighted a “massive rise difference on the weekly” and drew attention to the critical resistance at 0.06 BTC. Van de Poppe also predicts more consolidation before a potential market uptrend.