Bitcoin On-Chain Transactions Surge by 120% Since April 2018 while XRP’s Drops 39%
As cryptocurrency prices are moving upwards since December 2018 and further taking a considerable hike in the past week, the on-chain transactions of top cryptocurrencies are also seeing an upward trend, especially Bitcoin with one exception that is XRP.
Bitcoin is the king even when it comes to on-chain transactions, as during the last one year, Bitcoin saw a surge of 120 percent in transactions. It has been constantly making its way upwards since April 2018 only to see a significant drop in around March period that could be attributed to Veriblock.
From 169k in April 2018, the on-chain transactions on Bitcoin Network have risen to 370k at the beginning of this month.
Ethereum & Litecoin Registers Little Uptick
In comparison, Ethereum and Litecoin have seen a very small uptrend in its on-chain transactions that are 3 and 6 percent respectively. The transactions registered on Ethereum blockchain has been 583k a year back and currently resting slightly higher at 599k. Though Litecoin saw a bigger percentage rise in its transactions than Ethereum, the on-chain transactions in itself have been really low as they went from 27k last year to the current 29k.
Though Ethereum started off on a higher note, it started dropping down late last year and remained so until it saw an uptick last month only to take a dip yet again. Litecoin, on the other hand, has been constantly going through ups and downs. Only last month, Litecoin on-chain transactions register an upswing.
XRP Takes a Serious Drop But Figure Remains More than BTC & LTC Combined
However small this trend might be in the on-chain transactions on Ethereum and Litecoin, there has been some kind of positive movement, unlike XRP. The third largest cryptocurrency started declining in the mid of last year and since then have been constantly on the downtrend. XRP on-chain transactions have dropped down 39 percent in the past one year.
However, XRP has been seeing 678k on-chain transactions, the highest among Bitcoin, Ethereum, and Litecoin from a year back. Now it has come down to 417k which is still more than Bitcoin and Litecoin transactions. The figure is even more than BTC and LTC transactions combined but falls short of Ethereum’s on-chan transactions.
In the current month that is April 2019, all the blockchain saw a surge in transactions count as per Coin Metrics data. On 2nd April, ETH transactions went to 758.9k only to drop down to 139k on April 8th. XRP was at 550k on April 5th and declined to 289k on April 8th. At 39.7k Litecoin saw an uptick in its transactions count that fell to 29k on April 7th. Meanwhile, Bitcoin’s transaction count remained above 300k so far in April.