OKLink Chain Weekly Report: Bitcoin Continuing to Consolidate and Ethereum’s Highlights Frequently Emerge
Active addresses
Last week, the number of active addresses on the entire Bitcoin network was 6.4765 million, a month-on-month decrease of 2.02%; while the number of active addresses on the entire Ethereum network was 4.2151 million, a month-on-month increase of 29.77%.
As Bitcoin gradually stabilized above 10,000 yuan, the number of active Bitcoin addresses also showed a gradual decline. After July 30, the number of Bitcoin active addresses reached a yearly high of 1.1157 million in a single day, the data began to gradually decline. During the same period, the market also began to adjust, and it has not yet broken through the high in early August.
Number of new addresses
Number of new addresses
During the same period, the number of new addresses on the Bitcoin network was 3.3421 million, a month-on-month decrease of 1.29%, and the number of new addresses on the Ethereum chain was 1.5077 million, a month-on-month increase of 44.19%.
On-chain transaction volume
On-chain transaction volume
In terms of on-chain transaction volume, the on-chain transaction volume of Ethereum in the past week was 17.0207 million ETH, a month-on-month decrease of 8.83%, while the on-chain transaction volume of Bitcoin was 16.3899 million, an increase of 8.5% month-on-month.
Although Bitcoin’s on-chain transaction volume has picked up slightly, it is still at a nearly four-week low overall. Combined with the relatively stable number of active and newly added addresses, this increase may come more from the recent collection and arrangement of funds in giant whale wallets.
However, the transaction volume on the Ethereum chain has completely fallen back to the level before the DeFi mania. What happened at the same time was the continuous increase in the lock-up volume of DeFi protocols such as Uniswap.
Number of transactions
Number of transactions
In terms of the number of transactions, the number of transactions on the Bitcoin chain last week was 2.1371 million, a decrease of 3.23% month-on-month, while the number of transactions on the Ethereum chain was 7.7623 million, an increase of 7.2% month-on-month.
The number of on-chain transactions on Ethereum has rebounded, but combined with the still-falling on-chain fees, this increase may come more from normal account transfers rather than contract calls, which also implies that DeFi’s on-chain activities have declined to a relatively stable stage.
Transaction Fees
Transaction Fees
In terms of on-chain handling fees, Ethereum generated a total of 33,000 ETH in handling fees last week, or about 12.4914 million U.S. dollars, a month-on-month decrease of 12.86%, while Bitcoin’s on-chain handling fees were 436.24 BTC, or about down 29.9%.
Although the handling fee of Ethereum is still declining, the rate of decline has gradually decreased. The average handling fee of a single transaction has dropped to about 35 Gwei, basically falling back to the level in mid-June this year. However, due to the relatively stable transaction popularity of Bitcoin recently, the transaction fee is still in the trend of falling from the high level in early August.
