RATE Group | Ethereum’s realized cap declines by 9%; Bitcoin reports ATH
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Ethereum’s realized cap declines by 9%; Bitcoin reports ATH

06 Nov Ethereum’s realized cap declines by 9%; Bitcoin reports ATH

Posted at 21:54h in Ethereum News by

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Bitcoin’s market has been closely watched as it impacts most other cryptocurrencies. However, it has also been an important aspect of an economic system where cryptocurrencies have been represented using macroeconomic indicators. Coin Metrics’ new report highlighted the bullish wave Bitcoin is riding, closely followed by Ethereum [ETH].

According to the report, Bitcoin and Bitcoin Cash noted a growth in the market cap for the second week, whereas Ethereum [ETH], XRP, and Litecoin [LTC] recovered from a falling market cap. Despite registering a positive market cap, Bitcoin and Ethereum reported a loss in their usage as:

“BTC and ETH active addresses were down over 2% week-to-week, and transaction and transfer counts are both down by over 4%.”

Bitcoin also noted a decrease in hash rate, after reporting an ATH in October. The reason for this drop had been speculated to be the end of China’s rainy season, which had forced many miners offline due to decreased capacity of…

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