The Ethereum network surpassed Bitcoin in terms of total transaction volume last year, although the crypto king has managed to retain the crown when it comes to online search interest.
According to data from Nasdaq and Ycharts shared on Reddit on January 2, Ethereum will have 338% more transaction volume in 2022 (408.5 million) than the Bitcoin network (93.1 million).
The values shown in the chart are in millions of transactions with average daily transactions around 1.1 million for ETH and 255,000 for BTC.
However, transaction volumes on the Bitcoin network are more stable and more periodic than Ethereum, which experiences more volatility in transaction volumes. This is due to spikes in demand at certain times such as NFT launches and other gas-guzzling events such as XEN minting.
Ethereum’s higher transaction volume continued into the new year, with the number of Ethereum transactions on January 2 reaching 924,614, a 300% increase compared to Bitcoin’s 229,191 on the same day, according to Bitinfocharts.
Analysts posting the metrics said they were “skeptical about people who say flippening could happen someday,” adding that those who support it have reasons to do so now.
A flippening occurs when one chain exceeds one more-level for the same metric, in this case, transactions and activity.
The chart also does not include layer 2 transactions which would put Ethereum ahead of Bitcoin for this metric. According to L2beat, the number of L2 transactions per second (TPS) actually surpassed that of Ethereum’s layer 1 in mid-October and remains at the top.
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However, while Ethereum may be ahead in terms of transactions and activity, Bitcoin remains the most searched digital currency online.
On January 1, a newsletter from “In Bitcoin We Trust” announced that BTC will attract the most attention on the Google search engine in 2022, with 28.4 million Google searches per month worldwide.
The report agrees with Cointelegraph who said that Ethereum did not get the second or even the third position for search popularity. These spots are occupied by meme coin Shiba Inu (SHIB) and Dogecoin (DOGE).
Ethereum, in fourth place, has 3.8 million global monthly searches according to the data.