Ethereum Crosses One Million Transactions

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Ethereum art

Demand for the ethereum network has increased considerably with it rising now to more than one million transactions a day.

Thats the highest it has been since late December 2017 when ethereum’s price was much higher at about $800 at the time.

Ethereum transactions top one million, June 2019
Ethereum transactions top one million, June 2019

This significant U recovery in transaction numbers is while fees stand at about 5 cent with new addresses also rising at times to 150,000 recently.

Active addresses likewise have seen an increase and stand at December 2017 levels as well.

Ethereum active addresses, June 2019
Ethereum active addresses, June 2019

Neither active addresses nor transaction numbers have reached the high of January 2018 during eth’s peak prices, but Google searches have also increased to what looks like a high for the year.

Ethereum Google searches, June 2019
Ethereum Google searches, June 2019

Zooming out from this chart, Google searches are at only 17 out of 100 from an all-time perspective, so it’s a gradual increase.

That’s best seen perhaps by the amount of value moved through eth which has increased from a low of just $100 million in one day in February to now $1.25 billion.

ETH value transfers, June 2019
ETH value transfers, June 2019

That’s far below the brief peak of $30 billion in January 2018, but it’s moving in the right direction.

So while the number of transactions tells a certain story, there’s airdrops that may artificially affect it.

Looked holistically, demand, usage and interest is increasing, but is doing so gradually.

Now whether these are a leading or a lagging indicator is not clear, but in line with price they’re all moving up so far.

Copyrights Trustnodes.com

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