Ethereum Transactions Of 2022 Are Quadruple Than Bitcoin, The Most Popular Crypto

Ethereum's most transactions are in 2022. (photo: twitter @EthereumOnARM)

JAKARTA - Total transactions on the Ethereum network surpassed Bitcoin by more than four times, but Bitcoin is still the most sought-after cryptocurrency in 2022.

The Ethereum network outperformed Bitcoin in terms of total transaction volume last year, although the crypto king has successfully defended his crown in terms of online search interest.

According to data from Nasdaq and Ycharts shared on Reddit on Jan. 2, there were 338% more Ether transactions in 2022 (408.5 million) Bitcoin, with an average daily transaction of around 1.1 million for ETH and 255,000 for BTC.

However, transaction volume on the Bitcoin network is more stable and more periodic than on Ethereum, which experiences more volatility in transaction volume. This is due to spikes in demand at times like NFT launches and other fuel-intensive events like XEN printing.

According to Bitinfocharts, the larger volume of Ethereum transactions has continued into the new year, with the number of Ethereum transactions on January 2 reaching 924,614, an increase of 300% compared to Bitcoin's 229,191 on the same day.

The analyst who posted this metric said they were "skeptic about people saying flippening could happen one day," adding that those advocating it have reason to do it now.

Flippening occurs when one chain outpaces a higher-ranked chain for the same metrics, in this case, transactions and activity.

Bitinfocharts does not include layer 2 transactions, which would put Ethereum even further than Bitcoin for this metric. According to L2beat, the number of L2 transactions per second completely surpassed that of Ethereum's layer 1 in mid-October and has remained above it ever since.

However, while Ethereum may excel in terms of transactions and activity, Bitcoin remains the most sought-after cryptocurrency online.

On January 1, the newsletter from “In Bitcoin We Trust” revealed that BTC is attracting the most attention on Google search engines in 2022, with 28.4 million monthly Google searches worldwide.

The report concurs with Cointelegraph, which reported on December 23 that Ethereum does not take second or even third place in terms of search popularity. These places are occupied by the Shiba Inu memecoin. Ethereum, only in fourth place, has 3.8 million global monthly searches.