New research shows that 58% of Ethereum (ETH) transactions are for less than $20, and that 80% of transactions made are under $90.
The data, compiled by data scientist Alex Svanevik, co-founder of D5, a decentralized autonomous organization for data science, suggests that Bitcoin holders are more willing to spend big on their crypto transactions than ETH holders.
This reflects how people use Ethereum; the network is a popular choice for decentralized applications, which accommodate micro-transactions. Svanevik hazarded that it could also be because Ethereum is a popular hub for mining pools, gambling apps and exchanges.
Bitcoin is generally used for payments, and people appear willing to place bigger trades. According to Svanevik’s research, around 20% of Bitcoin transactions are worth more than $900.
Svanevik’s data suggests that, for Bitcoin and Ethereum, smaller trades (in Bitcoin value) are far more popular than they used to be.
For stablecoins—cryptocurrencies whose value is tied to a fiat currency, like the US dollar—Svanevik found that 40% of all transactions for stablecoins were between $100-$1,000.
For the most popular stablecoin, Tether (USDT), that figure increased to 45%, the highest among the most popular stablecoins. For the PAX stablecoin, 31% of trades were between $100-1,000; 27% for USDC, the stablecoin produced by Circle and Coinbase; and 23% for DAI, the decentralized stablecoin that’s maintained by the MakerDAO smart contract.
But the amount of Tether—well that’s going through the roof.
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