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Almost Half of the Top 100 Cryptos are Based On Ethereum’s Network

· 12 Jun 2018 in Cryptocurrency News, Home
Carlos is an international relations' analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.

Of the top 100 cryptocurrencies, 45 are based on the Ethereum blockchain, which is surprising for the crypto community. At the moment there are more than 1,600 coins listed in CoinMarketCap that are traded in over 200 different crypto exchanges.

Ethereum: Crypto Leader

Ethereum is showing that it is the second most important virtual currency in the market because it has a real proposal and a lot of developers using it. Ethereum has a very deep impact in the market, and this can be seen when we compare it with other cryptos.

Currently, 45 of these top 100 currencies are based on Ethereum, with a market capitalization near $16 billion dollars. The largest network without counting EOS and Tron, are NEO (the so called Chinese Ethereum), and Omni, both of them featuring tokens in the top 100. 

The numbers are very similar if we take into account all the currencies in the market. With 1,634 tokens listed, 690 are based on Ethereum, which represents a 42% presence.

Even when it is not possible to know the exact number of developers working on Ethereum it is possible to estimate that Truffle, a popular development framework for Ethereum, reached more than 550,000 downloads, a number that represents a 50% increase compared to three months ago.

It is also important to mention that Ethereum has passed Bitcoin in the number of unique addresses, which also shows the interest on this network and cryptocurrency.

According to numbers released by Etherscan, as of June the 2nd, there are 35 million unique ETH, compared to 25 million BTC unique addresses. The network is being used, embraced and adopted by many developers and companies all over the world. It can be implemented in many different areas and solve an important number of issues.

ConsenSys commented in an article about Ethereum’s Network:

“Since its inception, the network has processed nearly 240 million transactions. At its height on January the 4th, the network processed 1.3 million transactions in 24 hours.”

At the same time, they informed that ethernodes reports that near 17,000 nodes are running the Ethereum blockchain across six continents, being the most decentralized blockchain platform in the world.”

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