BTC and ETH have transferred a combined $ 1.8 trillion in 2020 and reached the new ATH.
According to the analysis carried out by Messari and the facilitator of this report, Trustnodes, Bitcoin, together with Ethereum, has transferred almost $ 2 trillion in value this year.
These values are the highest of all years and the value of transfers has already reached the new All-Time-High. The two most popular cryptocurrencies in 2020 averaged $ 200 billion each month.
But the most significant change is the fact that Ethereum managed to overtake Bitcoin for the first time and increased the volume of ETH transferred by more than three times (2019 – $ 297 billion) compared to last year. In terms of daily transfers Ethereum increased to $ 7 billion a day, Bitcoin records transfers at $ 3 billion.
Behind this rapid increase in ETH transactions is mainly the growth of the DeFi industry, in which use cases are increasing from day to day, and as 205 of the 218 DeFi projects are built on Ethereum this are clearly one of the strongest factors.
At present, Total Value Locked in DeFi is $ 12.52B and is also reaching the new ATH, compared to the beginning of the year when TVL in DeFi was 676.2M, this is a huge increase in interest in this sector.
Read also: PayPal as a potential trigger for mass adaptation of cryptocurrencies worldwide
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