Even in recovery after dropping more than 50% compared to its ATH, Ethereum continues to be highly sought after in the crypto community
Ethereum has surpassed Bitcoin in terms of address activity for the first time, according to data provided by the cryptocurrency analysis platform Santiment.
image by @santimentfeed
Earlier today, Ethereum hit a one-week high of $2,135 on the Bitstamp exchange.
The second-largest blockchain is seeing increased activity in preparation for the long-awaited EIP-1559 update, which is expected to be rolled out in the coming weeks.
Meanwhile, active Bitcoin addresses are at the lowest level since February.
The cryptocurrency is struggling to regain momentum after bulls failed to break the $35,000 resistance.
The ETH/BTC pair is now in the midst of an apparent trend reversal, rising nearly 7 percent in the past 24 hours.
Jim Cramer turns to Ethereum
After quitting Bitcoin and announcing that he would only buy it for $10,000, CNBC presenter Jim Cramer said he would continue to buy Ethereum.
The “superstar stock picker” likes Ethereum better because people use it “a lot more” to buy things:
“I came back to Ethereum because Bitcoin was worth $30,000. I like Ethereum because people use it a lot more to be able to buy things.”