Ethereum now has more active addresses than bitcoin in a sign traders are turning bearish on the world’s biggest cryptocurrency

Ether overtook bitcoin in the number of active addresses on its network on Friday, a sign that demand is faltering for the world’s biggest cryptocurrency as its counterpart gains in stature.

Data from Bitinfocharts shows ethereum in the lead with 757,859 active addresses, around 49,154 more than bitcoin, which has 708,705. The total number of active addresses on the bitcoin network has dropped 38% from its April peak of 1.1 million.