Ethereum Transactions Surpass One Million Registering Its Highest Point In More Than A Year

  • Ethereum surpasses 1 million of transactions a day
  • Litecoin’s transactions increased more than 150% in the last months

The number of daily transactions processed by the Ethereum (ETH) network has reached 1 million on June 28, after the rapid price increase experienced by Bitcoin (BTC).

Ethereum transactions have been growing since February when they reached a bottom after a year-long bear market.

Ethereum Transactions Surpass 1 Million

According to data provided by BitInfoCharts, Ethereum transactions have reached the highest point since February 2018, which is very positive for the network. Back in February 2018, Ethereum was just leaving the bull market that it experienced early in January 2018.

Since February 2019, when Ethereum transactions reached the lowest point in over a year, the network processed 381,000 transactions in just a day. During the last months, the network experienced a sustained increase in the number of transactions processed, which shows that there is an increased interest in the whole Ethereum ecosystem.

In order for the number of transactions to surpass its all-time high registered in December 2018, Ethereum would have to process more than 1,349,890 transactions in just a day. In addition to it, Diar reported that Ethereum volumes on decentralized applications (dApps) registered a new high in April close to 776,000 ETH transacted.

Other networks such as Bitcoin and Litecoin (LTC) have also been growing during the last months. However, Bitcoin’s transactions remained stable between 300,000 and 400,000 transactions a day since March 25. Litecoin, instead, registered an increase in the number of transactions over 150% from 18k to 47k a few days ago.

The increase in the number of transactions in the Litecoin network could be related to the fact that the digital currency will be experiencing a new halving in August this year.

At the time of writing this article, Bitcoin, Ethereum and Litecoin are the first, second and fourth largest digital assets in the market with $198 billion, $31 billion and $8 billion market capitalization respectively, according to CoinMarketCap. Bitcoin can be purchased for $11,157, Ethereum for $294 and Litecoin for $128.

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