According to data provided by crypto analytics platform Santiment, Ethereum surpassed Bitcoin in address activity for the first time on Monday.
The second-largest cryptocurrency by market cap is witnessing an uptick in activity in the run-up to the much-anticipated London upgrade that is expected to go live in the coming weeks. The upcoming upgrade includes Ethereum’s supposed gas-saving proposal EIP-1559.
While Ethereum is seeing an increase in address activity, Bitcoin’s active addresses have dropped to their lowest level since February. As of press time, both cryptocurrencies appears to have broken through their key resistances, with Bitcoin crossing $36,000. Ethereum, on the other hand, is currently trading at around $2,200. It appears both digital assets are in the middle of a trend reversal after rising by nearly 7 percent over the past 24 hours.
Meanwhile, CNBC host Jim Cramer recently announced that he had dumped Bitcoin for Ethereum and would only go back to buy BTC if its price drops to $10,000. According to him, more people use Ethereum to buy things.
I went back into Ethereum because Bitcoin held $30K. I like Ethereum because people actually use it much more to be able to buy things.