XRP vs Ethereum: A Comparison of Daily Transactions
Both the XRP Network (XRP) and the Ethereum Network (ETH) are among the most used crypto networks, with a high number of daily transactions. On August 8, data showed that there were close to 1.28 million daily transactions on XRP Ledger, compared to 1.09 million on Ethereum. Bitcoin (BTC) had significantly fewer transactions.
Key Points:
- XRP and Ethereum are competing for the title of the most used network in terms of daily transactions.
- XRP saw a drop in transactions in July but has mostly recovered.
- The XRP Network has an average of 53,330 transactions per hour, while Ethereum has 45,900.
- Bitcoin has an average of 17,288 transactions per hour.
- Bitcoin leads in transaction volume, followed by XRP and then Ethereum.
XRP Price Analysis
Currently, XRP is trading at $0.64, with a 4.60% increase in price for the day. The price has remained within this range since the beginning of August. In July, XRP experienced a significant price increase, but it has since retraced.
Hot Take
While XRP is lagging behind Ethereum in terms of transaction volume, it is catching up when weighted by market value. If XRP had the same fully diluted market capitalization as Ethereum, it would be worth $2.24 per XRP. The future of XRP will depend on further developments in the XRP and Ethereum networks, as well as the overall sentiment in the crypto and macroeconomic landscape.
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