Last year has been brutal for the cryptocurrency market. During this time, even the top currencies such as Ethereum have experienced a downtrend with ETH prices plummeting sharply.
A new data projection issued by Ycharts suggests that the Ethereum blockchain was the most popular cryptocurrency in 2022 in terms of transaction volume.
The same data projections have also been confirmed by NASDAQ also confirms the metric suggesting the ETH trading volumes surpassed Bitcoin. According to these metrics, ETH transactions surpassed Bitcoin with a 338% increase.
To this end, the total ETH transaction count reached 405 million while the Bitcoin total was noted at 93.1 million.
According to these latest reports, per day average transaction count for ETH remained at 1.1 million. On the other hand, the mean for Bitcoin per day trading volume is estimated at 255K.
It is important to note that the layer 2 token transactions have been added to the aforementioned metrics. Therefore, they indicate a visible increase in ETH adoption.
The layer 2 transactions however remained greater than the layer 1 transactions total for ETH during October last year. Considering the fact that several dApps project on ETH has indicated a visible increase in transaction volume.
On the other hand, others claim that Flippening is still in the cards on account of increasing traction while others disagree.
Bitcoin Remains Most Popular in Terms of Online Search Interest
Google search result metrics for 2022 indicate that Bitcoin remained the most popular cryptocurrency in the world during 2022 with 28.4 million queries.
On the other hand, altcoins like ETH, Shiba Inu, and Doge accounted for a total of 3.8 million Google searches the previous year. The New Year entrance for both Bitcoin and Eth started with modest gains.
Bitcoin prices were appreciated by 1% while ETH gained 1.7%. Some troubled altcoins like SOL also showed a positive retracement for 2023. Last year in January, Bitcoin prices were valued at $47K.
Meanwhile, ETH prices for January 2022 were registered at $3.7K. However, despite the sideways development most Bitcoin and Ethereum bulls are optimistic about positive development before year-end.