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EOS, Tron [TRX] cumulatively contribute 82% of all cryptocurrency transactions

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EOS, Tron [TRX] cumulatively contribute 82% of all cryptocurrency transactions
Source: Unsplash

Despite a bearish and sideways market, cryptocurrency transactions seem to be on the verge of reaching the previous all-time high. As per the data obtained from Blockchain center, the total on-chain transactions for all cryptocurrencies exceeded 522.119 million and the total number of active users for these transactions add up to 1.357 million.

Source: Blockchain Center

EOS has the most number of transactions as compared to any other cryptocurrencies, even exceeding that of Ethereum [ETH] and Tron [TRX]. The total transactions of EOS as of today is approximately 350.30 million. These transactions are coming from a total of 41,457 active addresses.

The transactions on EOS network peaked at 468.08 million in the second week of August 2018 and has since declined to 350 million. When compared to the big picture, EOS’ transactions are coming from a mere ~3% of the total active users.

Source: Blockchain Center

Tron follows EOS and has ~78.543 million transactions, which is the highest number of on-chain transactions that Tron blockchain has ever witnessed. As compared to EOS, the total number of active addresses for Tron are almost halved, i.e, 21,211.

Source: Blockchain Center

 

Bitcoin’s total transactions in the year 2018 peaked at 24.25 million in the second week of January 2018 and are currently hovering at 17.08 million, but Bitcoin’s total active addresses far exceed that of EOS’ or Tron’s, coming up to 681,779.

Source: Blockchain Center

Ethereum has a total of 33.27 million transactions as of November 11, which is contributed by a total of 247,671 active addresses. Ethereum’s on-chain transactions peaked at 71.48 million in the second week of January 2018 and have since declined.

Source: Blockchain Center

XRP’s transactions have come down to 17.99 million transactions, which are one-quarter of XRP’s peak number of transactions i.e., 72.05 million. The total active addresses as of today add up to 6,924.

Source: Blockchain Center

In conclusion, Tron and EOS together have about 4.5% of the total number of active addresses, while still contributing 82% of all the cryptocurrency transactions.



Bitcoin and Ethereum together contribute a mere ~9.5% of the total transactions but have a cumulative active address contribution of ~68%. EOS contributes up to 67% of the total number of transactions on the blockchain while Tron contributes to 15% of the total transactions. To sum it all up, EOS and TRX control 82% of all the transactions which come from only 4.5% active addresses.

A Reddit user tsMQ commented:

“If only 3% of active addresses is making that many transactions imagine when we hit 10% maybe 15% we will be blowing them out of the water for transactions per 24 hours and usage per user which is what we want, users using their coins/resources not just bag holding and watching the price drop.”





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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.

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Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more

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Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more

Daily Crypto News – May 25

1) Bitcoin Wallet receives part of 5,000 BTC: A recent Whale Alert highlighted a transaction on May 24, where a large sum of Bitcoin [BTC] exchanged hands between two anonymous wallets. According to the alert the transaction took place at 22:13:23 + 1 minutes and 5,000.00001092 BTC was transferred from an unknown wallet, with address 19SiCYaYKZh9A8HUjuh14eg5wtYzKxiFbB, to another unknown wallet with address 14GcjGjxwadzcpmq9EG3KUgTKATjurbnWt.

Read more at https://bit.ly/2VRQwb0

2) Bitwise Report 2.0: Bitcoin [BTC] futures continues growth: On a month-on-month basis, Bitcoin Futures saw a massive bump in April trading at an average of 10,000 contracts daily, peaking on April 4, with over 22,000 contracts traded. To put that number in perspective, in March 2019, the average contracts traded was less than 4,000. Despite the high standards set in April, the average daily contracts traded in May, with 25 days gone has exceeded 14,000 and still looks to grow, given the price performance of Bitcoin.

Read more at https://bit.ly/2W40sTR

3) Craig Wright on private keys: Craig S Wright has, for years, claimed he is the true creator of Bitcoin [BTC] without providing a shred of evidence to support the same. With the crypto-community levelling, Wright could prove his worth by sending BTC from Satoshi Nakamoto’s touted wallet containing around 980,000 BTCs, the BSV man in a twisted cause and effect situation, stated he will “sign” into his wallet only when he proves he is the creator.

Read more at https://bit.ly/2X6fdlw

4) Tether’s [USDT] market cap hits ATH: Tether and Bitfinex are being closely scrutinized now more than ever due to the NYAG’s lawsuit; however, the scrutiny doesn’t seem to have affected Tether as the market cap of USDT has increased by over $100 million in approximately 70 days.

Read more at https://bit.ly/2McaTjE

5) Tether volume shift: Another controversial topic in the cryptocurrency industry was the issue of fake transaction volumes on many of the popular cryptocurrency exchanges. The magnitude of the topic was so large that even Changpeng Zhao, the Chief Executive Officer [CEO] of Binance had raised red flags. This topic and Tether as a whole received another twist when Larry Cermack, the Director of Research at The Block, pointed out a few parameters when it came to the said volume.

Read more at https://bit.ly/2wmk4mJ

6) Bitfinex’s LEO tokens listed on Delta Exchange: Bitfinex’s Leo tokens faced quite a lot of criticism when they were announced, due to the missing $850 million funds from Bitfinex. The private investment round by Bitfinex also faced a lot of heat from the media. However, in a recent development, Leo tokens are being listed on various exchanges for trading.

Read more at https://bit.ly/2HUEnNB



7) Robinhood en-route a projected valuation of $7 billion: Robinhood, the California-based cryptocurrency exchange made headlines recently when a source close to the organization revealed that it was on the verge of closing their latest round of funding at a valuation of a whopping $7 billion – $8 billion. Sources even claimed that the current round of funding could act as a precursor to an even bigger round of funding, which would pit Robinhood with the bigwigs like Coinbase and Binance.

Read more at https://bit.ly/2W64KKj





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