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Trading volumes of Ethereum, the second largest cryptocurrency, grew faster than Bitcoin in the first half of the year, according to a report from Coinbase Global, America’s largest crypto exchange.
Looking at data from 20 major exchanges around the world, Coinbase found that bitcoin trading volume for the period was $ 2.1 trillion, up 489% from the $ 356 billion in the first half of the year. last year, according to Bloomberg.
During the same period, Ethereum’s trading volume totaled $ 1.4 trillion, an increase of 1461% from the $ 92 billion in the first half of 2020. This was the first-ever continuous period during which the pace of Ethereum trading exceeded the growth rate of Bitcoin. , according to Coinbase. .
Bitcoin and Ethereum rallied last week after their significant declines in May over concerns about Bitcoin’s environmental impact and a regulatory crackdown in China, where Ethereum has been at the heart of a new suite of applications allowing peer-to-peer lending and borrowing. and trade.
It also faces an upgrade scheduled for around August 4 that will reduce the number of tokens in circulation by destroying some each time they are used to fuel transactions, which could increase price gains.
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