On-Chain Data Shows Major Differences Between ETH And ETC

The latest On-chain data shows the major differences between Ethereum and Ethereum classic despite their technicalities and price actions. The latest data takes a different approach to determine the fundamental differences between these two major cryptocurrencies as we are reading in the latest ethereum classic news.

In a blog post, the head of business development at the statistical modeling firm IntoTheBlock, Nicolas Contasti explained how the on-chain data shows how Ethereum and Ethereum Classic are different from the fundamental perspective. Contasti evaluated which of these cryptocurrencies poses a better investment tool. By looking into the dashboard of IntoTheblock reveals that Ethereum has a market capitalization and price 26 times higher than Ethereum classic according to Contasti. Ethereum is also closely correlated to Bitcoin and the number of larger transactions are happening on its network is dramatically higher than Ethereum Classic.

Further diving into the In/Out of the Money indicators shows a huge difference between these two cryptocurrencies. This index shows the holistic perspective of how well the investors are dong by holding both of these assets. Contasti explained:

“In a nutshell, [the IOM] averages all on-chain positions, compares them to the current price, and through a Machine Learning algorithm, it organizes the data into the 10 most significant groups in terms of both addresses and volume of tokens. Those addresses above the current price are those ‘In the Money’, where those that have a dollar average balance below current price are said to be ‘Out of the Money’.”

The indicator shows that more than 47 percent of all of the addresses that hold Ethereum have a positive balance so all of the market participants are considered to be ‘’right into the money.’’ About 36 percent of the addresses that hold Ethereum Classic has a positive balance. The difference between the investors is the profits in about 10 percent and the activity on the network shows another bigger discrepancy. The number of transactions with a value greater than $100,000 on the Ethereum network ranges from 150 to 1000 in one day. For Ethereum classic Contasti said that a lot of the transactions are less frequent and at times there were none. The number of transactions for Ethereum classic ranges between 0-150.