Last year, the Ethereum network surpassed Bitcoin in terms of total transaction volume, yet the king of crypto has retained its lead in terms of online search interest.
According to Nasdaq and Ycharts data released on Reddit on Jan. 2, there were 338% more Ether (ETH) transactions in 2022 (408.5 million) than Bitcoin (BTC) transactions (93.1 million).
The data in the chart are in millions of transactions, with the average daily transaction volume for ETH being about 1.1 million and 255,000 for BTC.
According to Bitinfocharts, Ethereum's higher transaction volumes have continued into the new year, with the total number of transactions on Jan. 2 hitting 924,614, a 300% increase over Bitcoin's 229,191 transactions that day.
However, compared to the Ethereum network, which saw far more transaction volume fluctuation, the volume of transactions on the Bitcoin network was more regular and stable. This was brought on by demand spikes at particular times, such NFT launches and other gas-guzzling events like XEN minting.
According to the analyst who posted the data, he was "skeptical about people saying that a flippening could happen someday," but he added that those who were in favor of it now had good cause to do so.
A flippening happens when one chain outperforms another for the same metric, in this example, transactions and activity.
The figures also exclude layer 2 transactions, which would place Ethereum ahead of Bitcoin in this statistic. According to L2beat, the number of L2 transactions per second topped layer 1 Ethereum transactions in mid-October and has been above it ever since.
While Ethereum may be ahead in terms of transactions and activity, Bitcoin remains the most-searched cryptocurrency on the internet.
According to a newsletter from "In Bitcoin We Trust" published on Jan.1, the year 2022 saw the most Google searches worldwide, with 28.4 million of them being for BTC.
According to the report, Ethereum did not come in second or even third place for search popularity, coinciding a year-end report from Cointelegraph. Shiba Inu (SHIB) and Dogecoin (DOGE), two memecoins, respectively, took up these positions.
Fourth-placed Ethereum had 3.8 million global monthly searches, according to the data.
