The world's second-largest crypto asset has gained footing on Bitcoin (BTC) in terms of trading volume growth during the get-go half of this year co-ordinate to a new written report.

Ether's trading volume grew faster than Bitcoin's in the first half of this year, according to a new report from leading American crypto substitution Coinbase.

The Coinbase Institutional "H1 2022 in Review" report, released on Monday, acknowledged that the outset half of this year has been one of the well-nigh agile periods on record for crypto, with several new all-time highs in prices, user adoption and trading activeness.

Taking data from 20 exchanges across the world, the report revealed that the trading book for Bitcoin reached $ii.i trillion for the menstruum, upwards 489% from $356 billion over the offset half of final year.

Ether'southward (ETH) total trading volume reached $1.4 trillion, merely its growth was much faster, up 1,461% from $92 billion in the first one-half of 2022. Coinbase remarked that it has been the start sustained menstruum of fourth dimension e'er that Ether'south trading stride exceeded Bitcoin'due south.

The research also measured full crypto market place capitalization, which began the year at $769 billion, peaked at $2.4 trillion in May, and concluded the period at $1.iv trillion, registering a net gain of 86% year to engagement.

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It noted that the bulk of BTC'south gains came during Q4 2022 and Q1 2022 before the crypto asset's price declined in Q2 2022. It is currently trading downwards 38.viii% from its April 13 best high of $65,899.

Ether, on the other hand, saw the majority of its gains in Q2 2022 when it doubled in cost to reach an all-fourth dimension loftier of $iv,357 on May 12. However, it has retreated an even deeper 47.4% to current levels.

The 2d-virtually valuable crypto asset appreciated 895% over the 12-month period and 210% over the half dozen-month period ending June 30. Coinbase attributed a number of factors to this including increased usage in decentralized finance, investor optimism in the network's transition to proof-of-pale, and the rise of layer-two scaling solutions for the network.

In January, Cointelegraph predicted that Ether will become the main asset for investors in 2022. Both BTC and ETH have rallied over the past calendar week, gaining 32.4% and 27.7%, respectively, according to CoinGecko.