The number of transactions in the Ethereum blockchain has exceeded 1 billion

The number of transactions in the Ethereum blockchain has exceeded 1 billion

The Ethereum exchange rate continues to grow, and against this background, another significant fact remained almost unnoticed – the number of transactions in the network of the second cryptocurrency reached 1 billion.

The Ethereum blockchain was launched in 2015, and in May 2017, the average daily number of transactions reached 100,000 for the first time. By January 2018, this number had increased tenfold.

However, with the fall of the cryptocurrency market, the average daily number of transactions decreased and until the summer of 2020 ranged from 500,000 to 1 million. Only since June 2020, the indicator has consistently exceeded 1 million.

At the time of publication, according to the Etherscan portal, the number of transactions in the Ethereum network has reached 1,000,085,000. The average commission is $4.02, the mining difficulty is 4 682.18 TH, and the hashrate is 364 882.51 GC/s.

On average, there are currently 1.3 million transactions per day on the Ethereum network. The indicator has been growing steadily since June 2020, and analysts attribute this to the boom in decentralized finance (DeFi) applications.

Recall that on February 4, the volume of blocked funds in DeFi applications exceeded $32 billion, and against this background, the average commission amount in the Ethereum network was $23.

If the current growth in the number of transactions continues, the Ethereum network will reach the 2 billion mark in two years. However, before that, Ethereum 2.0 should be fully launched.

News