While Bitcoin and Ethereum prices are in the red, the network is growing with a surge in addresses and the average number of transactions per block, however, the hash rate has taken a dip. Meanwhile, XRP community beats Ethereum on Twitter.
Market Growth Amidst the Bears Onslaught
Currently, the crypto market is in deep red where top three cryptocurrencies, Bitcoin is registering 2.34 losses at $3,399, XRP is $0.2857 with 4.27 percent losses and Ethereum is at $104 with 24-hours loss of 3.67 percent.
Just like price Bitcoin and Ethereum Hashrate is taking a hit. According to the latest report by Houbi,
“Bitcoin’s Hashrate decreased by 6.57% and Ethereum’s Hashrate decreased by 1.84%. The average transaction fees on the Bitcoin network this week was $0.178, decreased 3.26% from last week.”
There has been even more fall in the hash rate of Ethereum, since then.
When it comes to transactions, it states, “Average number of transactions per block and average block size both increased on Bitcoin; Average number of transactions per block and average block size both increased on Ethereum. Average number of unconfirmed transactions in Bitcoin increased by 12.41%, and that of Ethereum also increased.”
The average transaction fees on Bitcoin Network on January 20th has been $0.17 after hitting $0.29. However, it is yet again moving around $0.20. Meanwhile, the average fees on the Ethereum network has been about $0.07 on January 21st and are still moving around this number.
Bitcoin average transaction fees, Source: Bitinfocharts
Ethereum average transaction fees, Source: Bitinfocharts
Meanwhile, “Total number of addresses on the Bitcoin and Ethereum network reached 32.52 million and 54.66 million, respectively.”
When it comes to social popularity, Bitcoin is the king as per Huobi’s Research, however, on Twitter Ripple is close behind Bitcoin. Whereas in Facebook, Ethereum has a slight lead on XRP.
Cryptocurrency prices might be on a downward trend but the developments of the network and the activity around these digital assets on social media are surely keeping up.
Having a background in writing, I worked on a wide array of industry topics and have recently entered the world of Blockchain and Cryptocurrency.