Daily Ethereum Transactions Exceed One Million, First Time Since May 2018

by | Jul 1, 2019 | Blockchain, Cryptocurrency, Cryptocurrency News

Ethereum | Daily Transaction | Blockchain | Cryptocurrency

Ethereum (ETH) exceeds one million daily transactions on its network on June 28, for the first time since May 2018 as per the data reported by leading Ethereum block explorer Etherscan.

The data suggests that on June 28, Ethereum blockchain experienced 1,004,170 confirmed transactions. Previously, the Ethereum chain registered over one million daily transactions in May 2018. Though a feat it is still far from the 1,349,890 daily transactions peak it registered last year on January 4.

In  December 2018, the on-chain transaction value of Ethereum hit a monthly transaction high. In the same month, 115 million transactions were confirmed on-chain, excluding an all-time high activity following a hard fork caused by the DAO hack in 2016.

Diar, a crypto analytics firm, reported at the time that Ethereum volumes on decentralized applications (DApps) also registered a new high in April with 776,000 ETH transacted. At the end of April, industry newsletter Diar further noted that on-chain transactions on the bitcoin (BTC) network hit fresh highs not seen since 2017 during the month.

Peter Brandt, Veteran trader, and author predicted that a new market forecast that Bitcoin (BTC) will continue to grow, but altcoins like Ethereum will not feel the benefits.

Read more: Irish Crypto Exchange Bitsane Purportedly Disappears With Users’ Funds

Image Source – Pixabay.com

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