The Bullish Boom of Digital Assets: 100 Insightful Figures Unveiled

Highlights from CoinMetrics’ Insightful Report

CoinMetrics recently released a hefty 100 insights into the lively world of digital assets, just in time for their 100th issue of the “State of the Network” report. It’s basically crypto’s version of a century party — but instead of balloons, we’ve got numbers tugging at our attention. And boy, do those numbers paint a rosy picture!

Dogecoin Defies Gravity

Hold on to your hats (or should I say wallets?). A pint-sized investment of $100 in Dogecoin (DOGE) just 100 days ago would reward you with a staggering $2,742 today. Meanwhile, in the crypto race, Bitcoin (BTC) would only have brought your fortune up to $135, and even Ether (ETH) can only muster $186. So DOGE is clearly the overachiever in this class!

Trading Volumes: Who’s Bringing in the Bucks?

Let’s glance at the trading volumes because who doesn’t love a good flow chart? Over the last 100 days, Bitcoin dominated with a colossal $14.5 billion in “trusted trading volume.” Ether followed with a respectable $6.1 billion, and then there’s XRP ($2.4 billion), DOGE ($2.3 billion), and Cardano (ADA) at $1.3 billion. Looks like Bitcoin is the golden child here.

Active Addresses: The More, The Merrier!

If you’re looking for active engagement, the Bitcoin network is surely thriving! There were around 1.12 million daily active Bitcoin wallets and a hefty 611,000 active Ethereum addresses over the past 100 days. On April 14, Bitcoin even scored a record-breaking 1.36 million wallets doing the cha-cha with the network on the same day. Talk about a party!

Transaction Fees: Who’s Paying What?

Ever wondered who’s shelling out the most on transaction fees? Ethereum users have collectively dropped a whopping $2.3 billion in fees since January 2021—all while Bitcoin has racked up about $2 billion over its entire existence. On average, Bitcoin’s transaction fee was around $20.68, while Ethereum tagged in at $16.68. So when it comes to fees, Ethereum is like that friend who always ends up ordering the pricey drinks!

Stablecoins on the Rise: A New Player in the Game

Stablecoins sure are stealing the limelight lately. Tether’s (USDT) supply on Ethereum soared from 13.5 billion to 24.4 billion within this year. Meanwhile, Tron flexes with USDT surging from 6.8 billion to a stonking 26 billion. Even USD Coin (USDC) jumped 234%, from 4.1 billion to 13.7 billion. CoinMetrics sums it up succinctly: it took 2.5 years for stablecoin supply to grow from 1 billion to 10 billion. Now that’s a growth spurt!