Why high demand in ethereum than BTC?

[Babubu609 0]

I was making some investigation on the crypto market and view from many exchangers but found out that eth was well traded than btc. I keep wondering why is that happening BTC is a potential coin that has the highest price but seems to remain less demand.

 

There are few people that invest in btc but withdraw in any other coin why not BTC?

 

There are also some Altcoins that are use more than BTC  why not using BTC as it is more profitable?

 

Why is this all happening I need answers to this to get out of confusion friends and am sure their  are many colleagues here that are facing the same problem as I too.

 

Thank you all for your feedbacks

[rekter 8129]

If by "well traded" you mean trading volume, you can throw those stats out of the window. Most of it is faked volume that some exchanges use for wash trading and getting better rankings in the trading volume metrics.

 

Also, different altcoins are for different things. You can't use bitcoin for eth dapps or nft projects for example.

Edited May 9, 2020 by rekter

[NevermindNe 549]

6 hours ago, Babubu609 said:

There are few people that invest in btc but withdraw in any other coin why not BTC?

I think that this is due to the fact that almost all exchanges and all wallets fee for transferring bitcoin is large and it is much more profitable to exchange it for Ethereum or any other coin and withdraw it. People invest in bitcoin, but withdraw money in other coins in order to save their money. 

[jamesvince 2389]

I don't think so that eth traded more then what's trading on bitcoin is you checked the total volumes of 24 hours on Coinmarketcap and coingecko. If find more volumes on bitcoin rather than eth. You also can checked this history on cmc and coingecko. 

[Whited35 15285]

I do not think like ETH is highly demanded than Bitcoin in the cryptocurrency market. You know, there are not limit for the amounts of ETH that can be mined. Most of the new projects are releasing their own tokens which are based on Ethereum network but sill , I think, Bitcoin is well demanded than that of ETH in the crypto markets. 

[Zaino34 0]

I think the reason behind this is withdrawal fees. Bitcoin withdrawal fees compared to Ethereum are high, so people replace their currencies with Playtherium and then withdraw them to save some money because the Ethereum withdrawal fees are low.

[Babubu609 0]

3 hours ago, NevermindNe said:

I think that this is due to the fact that almost all exchanges and all wallets fee for transferring bitcoin is large and it is much more profitable to exchange it for Ethereum or any other coin and withdraw it. People invest in bitcoin, but withdraw money in other coins in order to save their money. 

I agree with that is the same investigation I focused on the market and find out that many people engaged theirselves in trading BTC but withdrawing in eth or other Altcoins and yes this is due to high transaction fee

1 hour ago, Zaino34 said:

think the reason behind this is withdrawal fees

Yes is the transaction fee and also the time consuming also affect it the transaction in eth is more faster than btc

[Mcd0d0 5882]

Well, it's because this ethereum is more worth than bitcoin in terms of mining, i do some research to mining in youtube how they will set up their equipments and i see that all of it's rig is just mining ethereum, happy posting everyone.

[ayatoslaw 858]

My advice, you should try to make your own observations, such as collecting data at least 20 exchanges that have rank based on liquidity (you can find it here), after that you compare then conclude by looking at many points of view, and if you have done it, I am sure you will find many answers to your questions, because maybe what you ask with what happened is just the opposite.

 

[Treat1234 0]

This is just a choice from all the cryptocurrency enthusiasts, I can decide to used dogecoin for my withdrawal, but mind you I preferred to stored my assets in bitcoin, it is just difficult for hackers to have access to it and in most of the exchanges bitcoin transaction is far ahead than any other cryptocurrency.

 

Ethereum and ripple are the two major coins that are interchanging position in the market but not bitcoin at all. Bitcoin composed about 60% of the market liquidity.

[Babubu609 0]

1 hour ago, ayatoslaw said:

My advice, you should try to make your own observations, such as collecting data at least 20 exchanges that have rank based on liquidity (you can find it here), after that you compare then conclude by looking at many points of view, and if you have done it, I am sure you will find many answers to your questions, because maybe what you ask with what happened is just the opposite.

 

Thanks for the advice I will try to make investigation as you said with the provided links so that I get myself clear about the market prices and demand between the eth and btc.

[Ridam 7455]

Well I don't think the demand of btc is lower that eth, the btc has huhe popularity in compared to eth. As new people knows about Bitcoin at first and only Crypto currency.

And talking about withdraw people prefer withdrawing in altcoins than in btc because of high fee of btc in my view.

[gourav789 2834]

Etherium is also a well coin for trading as well Etherium have good total coinmarketcap . there are good prediction about Etherium price in future I am also store some amount of Etherium trading value of Bitcoin is low only in yobit other exchange ( where l lending and liquidation service ) there Bitcoin trading value is high .

[Virgil dijk 1431]

Well it can be that Ether is more traded than bitcoin due to some reasons, bitcoin price is so high and most low Investors could not afford to invest in bitcoin because the profit will not be much so there invest in ether,  and also bitcoin withdrawal fee is high so there exchange to ether because it has low withdrawal fees.

[CryptoMaxim 3829]

Perhaps this is because of halving, the demand has fallen and everyone expects its consequences. And the price of Ethereum is not very high and Ethereum has potential this contributes to demand.

[MrGeany 297]

well i think that most of the cases people just invest their money in btc and do a long time investments instead of 1-2 hour/day trading investments. i think most of btc users believe that it's price will go up higher and higher after a long time of period. and i think all opposite is in eth users. they focus more on short tem trading and earning. thats my 2c.

[magd 5231]

Bitcoin is the most expensive cryptocurrency and therefore you only need to work several days to suffice withdrawal fees. As for other currencies, fees for withdrawing are much lower and traded easier in terms of buying and selling in addition to many other reasons, which are personal due to the convictions of traders

[BTC Future 3946]

I don't think that Ethereum is having bigger real trading volume than Bitcoin. There might be spikes in altcoins being traded more for an hour or so, but usually that doesn't happen.

[Raqeebzy 6456]

18 hours ago, Babubu609 said:

There are few people that invest in btc but withdraw in any other coin why not BTC?

That's the case of withdrawing earnings on cryptotalk from Yobit too, High transaction fees on bitcoins. So it is preferable to trade them for ether or other cryptocurrency firstly, before withdrawal.

[Zues 1069]

18 hours ago, Babubu609 said:

I was making some investigation on the crypto market and view from many exchangers but found out that eth was well traded than btc. I keep wondering why is that happening BTC is a potential coin that has the highest price but seems to remain less demand.

 

There are few people that invest in btc but withdraw in any other coin why not BTC?

 

There are also some Altcoins that are use more than BTC  why not using BTC as it is more profitable?

 

Why is this all happening I need answers to this to get out of confusion friends and am sure their  are many colleagues here that are facing the same problem as I too.

 

Thank you all for your feedbacks

I think that ethereum is high in demand before because they know they bitcoin is falling an declining in its price so they are demanding for better cryptocurrency because they don't want to demand  a smaller value like bitcoin. 

[Babubu609 0]

6 minutes ago, Raqeebzy said:

the case of withdrawing earnings on cryptotalk from Yobit too, High transaction fees on bitcoins.

The transaction fees really matters a lot a agree with you even me I also like withdrawing in Etc than Bitcoin or eth 

2 minutes ago, Zues said:

I think that ethereum is high in demand before because they know they bitcoin is falling an declining in its price so they are demanding for better cryptocurrency because they don't want to demand  a smaller value like bitcoin. 

That is true it also save time in time of saving opportunity for fast transactions

[ETheHedgehog 3104]

bitcoin is the highest priced but the transactions are slower and more costly than other Altcoins like ETH and XRP which is why people also invest in them

[bitcoinb 1359]

On 5/9/2020 at 7:31 PM, Babubu609 said:

I was making some investigation on the crypto market and view from many exchangers but found out that eth was well traded than btc.

To be honest, I am very skeptical about your "investigations" ... Below are the 24H trading volumes reported by CoinGecko and CoinMarketCap.

 

CoinGecko:

1.  BTC = $64,983,180,889
2.  ETH = $18,359,260,569

CoinMarketCap:

1.  BTC = $63 041 353 603
2.  ETH = $25 059 597 932

Conclusion: 

Ethereum is really far to be more traded than Bitcoin...  I am curious to know more about your methods of "investigation"...

 

NOTE: CoinMarketCap was bought by Binance less than 2 months ago. More than ever, I suggest you to use CoinGecko.

 

[betelihem 4766]

On 5/9/2020 at 8:31 PM, Babubu609 said:

There are few people that invest in btc but withdraw in any other coin why not BTC?

Peoples trad with bitcoin because the price fluctuation is big and good for trading, but they withdraw with other coins is because the transaction fee of bitcoin is higher than any coins, on binanc exchange site the withdrawal fee for btc is 40,000 satoshi but for litcoin its less than 0.01$$ so that's why peopels withdraw wit other coins not bitcoins.

[Shivam1 428]

On 5/9/2020 at 11:01 PM, Babubu609 said:

I was making some investigation on the crypto market and view from many exchangers but found out that eth was well traded than btc. I keep wondering why is that happening BTC is a potential coin that has the highest price but seems to remain less demand.

 

There are few people that invest in btc but withdraw in any other coin why not BTC?

 

There are also some Altcoins that are use more than BTC  why not using BTC as it is more profitable?

 

Why is this all happening I need answers to this to get out of confusion friends and am sure their  are many colleagues here that are facing the same problem as I too.

 

Thank you all for your feedbacks

Many people invest in bitcoin and exchange their money in ETH because bitcoin price is high and exchanging tax is also high but ETH exchange rate is low compare to btc.