XRP and BCH fees are orders of magnitude lower than BTC: $1.6 billion Bitcoin Cash moved for $50

2018-12-19 07:04

Messari.io has turned OnchainFX into a real beast since acquiring them earlier this year. The number of data points available on their site is growing with each passing day and they, along with coinmetrics.io, are a real enrichment for the transparency in cryptocurrency space.

According to Messari data, there 226,338 transactions on bitcoin blockchain in the last 24 hours. Amount of value moved in these transactions was a little above $1.8 billion and the fees paid to miners amounted to around $55k. The $1.8 billion is the estimated on-chain transaction volume in USD for the past 24hrs, a (mostly) unfiltered figure which computes transaction volume as ‘the sum of all transaction outputs belonging to the blocks mined on the given day’, ignoring knowable ‘change’ outputs.

For comparison, the fork of bitcoin, Bitcoin Cash had around $1.6 billion on-chain volume and fees paid were only $50. Big blockers obviously did manage to reach their goal of lowering fees on their network but seem to be failing in every other aspect as BCH is slipping down the ranks, even though they did stage a nice pump today to recover couple of spots.

The black sheep of crypto, XRP had a much lower volume in comparison to bitcoin as their ledger recorded only around $52 million worth of transactions for which the users had to pay $197 in fees. Ripple is ostensibly being used for small volume transactions as they did record more overall transactions than bitcoin, around 336k.

As it was the case the whole month, absolute leaders in number of transactions are two dPos blockchains, Tron and EOS. This time it was EOS that dominated the market with more than 4 million transactions with TRX trailing behind with around 1.7 million. The value moved in USD was $68 million on EOS and $7 million on Tron. Both networks are swarmed with alluring gambling and gaming dapps that are capturing most of the users and transaction volume on the networks.

The post XRP and BCH fees are orders of magnitude lower than BTC: $1.6 billion Bitcoin Cash moved for $50 appeared first on CaptainAltcoin.

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