The daily ETH transactions registered on the Ethereum network exceeded the one million number yesterday, as we can see from the latest cryptocurrency news. June 28 is the first time since May 2018 for a high like this to occur. The data comes from the leading Ethereum block explorer named Etherscan.
As the data shared in the altcoin news shows, on June 28 there were 1,004,170 transactions confirmed on the Ethereum blockchain. Before yesterday, the last time the Ethereum chain registered this number (of over one million daily ETH transactions) was in May 2018. However, the current level is still noticeable lower than the record high of 1,349,890 daily transactions peak which was registered on January 4 last year.
Currently, the on-chain transaction value of Ethereum is at a 2019 high. As the daily ETH transactions crossed the one million mark, we can come back to December 2018 and the 115 million transactions confirmed on-chain per month, which was another all-time high excluding the activity following a hard fork caused by the DAO hack back in 2016.
As of recently, the coming altcoin news featured a report from the crypto analytics firm Diar, showing that Ethereum volumes on decentralized applications (dApps) registered a new high in April with more than 776,000 ETH transacted. At the end of the month, the industry newsletter Diar also showed that the on-chain transactions on the Bitcoin (BTC) network hit fresh highs that were not seen since 2017 during that month.
For those of you who don’t know, Ethereum is often described as blockchain 2.0. The cryptocurrency invented by Vitalik Buterin and others is basically an extrapolation of Nakamoto’s work and develops on Bitcoin’s foundations by adding Smart Contract functionalities. This allows decentralized applications to be built on top of the Ethereum blockchain.
The daily ETH transactions are at a record high right now, as reported by many best cryptocurrency news sites. This means that besides the popularity of ETH on the market, there are more and more Ethereum accounts (20-byte addresses which are able to store the “state” of ownership of Ether tokens. All of the transactions remain transitions of ownership between Ethereum accounts.
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