Despite the bull market slowing down quite a bit, daily Ethereum transactions surpassed the 1 million mark. The data from Etherscan shows that the 1 million mark was surpassed 3 times in total this year alone.
Just a few days ago, the data shows that the confirmed daily Ethereum transactions were exactly 1 004 170. The last time the 1 million mark was surpassed was back in the middle of May.
Ethereum daily transactions have risen a lot in the past
A few days before the 1 million mark was surpassed in May, Ethereum was easily processing over 650K transactions per day.
2/7 Ethereum is currently processing ~650k transactions per day, representing an approx. +10% increase over the number of daily transactions around when the market may have bottomed mid-Dec 2018 (~570k). However, this fundamental is still down appox. -42% from its high on 1/4/18. pic.twitter.com/rvggczKUsm— Dan Zuller (@danzuller) May 7, 2019
While this is definitely a welcomed sight, it’s not yet up to par with the 1 349 890 daily Ethereum transactions recorded back in January 2018.
With Ethereum daily transactions, the price is definitely not always the most important factor. Back in December 2018, Joseph Lubin announced that he will completely restructure ConsenSys to combat the bear market.
The low Ethereum prices however, didn’t seem to stop users, in fact it was quite the opposite. Diar reports show that monthly transactions back in December 2018, broke all activity records except for the DAO hack back in 2016.
It’s also very important to note, that the bull run has affected helped to increase Ethereum volumes on dApps. 776 000 ETH were transacted and a new high was reached back in April.
As the market slows down after the Coinbase Crash, the optimistic crypto forecasts are definitely not going away. Many analysts including Peter Brandt have come forth and said that Bitcoin is on a straight trajectory to the moon.
After the bull run resumes its brief pause, it’s expected by a majority of experts that bitcoin will without a doubt, surpass its previous high of 20K until the end of the year.
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Tags:bull run pauseDAO hack 2016 Ethereumethereum daily transactionsEthereum price factorsethereum transactions