Based on the data got from the Coin Metrics analytics, Messari researcher Ryan Watkins has underlined the fact that ETH and ERC-20 tokens transferred within the Ethereum network have reached parity with the leading crypto in term of market capitalization, and both of them are now worth $1.6 billion
Ethereum dominance is a matter of time
The new data show that the total value of crypto assets being transferred within the ETH network is now equal to BTC value. Watkins calls stable coins the driving force of the in-network Ethereum transactions.
“Stablecoins now constitute 80% of the everyday transaction value on ETH network, and they are used for larger exchanges than BTC”. Watkins claims that ETH dominance is just beginning and it will soon take the leading place getting ahead of Bitcoin according to the total transaction volume.
The expert also noted that stablecoins are now increasing their growth four times, while blockchain smart contracts will strengthen their positions as a leading platform for these assets.
