Ethereum has been leading the blockchain segment in terms of daily transactions. It has reportedly outperformed Bitcoin by almost double. Algorand has also outperformed Bitcoin by daily transactions
But how has Bitcoin faired against Dogecoin? IntoTheBlock revealed that Bitcoin’s daily transaction count has outperformed Dogecoin seven-fold.
Despite the above findings, Bitcoin’s transaction count has achieved an overall improvement in the last six months. It peaked at 682,099 BTC at the start of May but has since dropped to 478,176 BTC, according to the latest data.BTC’s latest transaction count is significantly better at its press time level than it was at the start of the year despite the dip. This is because its transaction count was lower than 200,000 BTC at the start of January.
But how has this affected network fees? Well, according to Glassnode, fees have dropped off substantially in the last two months. Bitcoin network fees are now back to levels seen in Q1 and for a good reason. The fees spiked towards the end of April and peaked in May. This peak was short lived but it was around the same time that we saw a spike in miner revenue.Part of the reason for this spike was the fact that the network experienced a boom in activity in April and May. This was around the same time that we saw a lot of Bitcoin Ordinals-related activity.and perhaps even push higher.
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