The Ethereum network has seen demand rise, as it is now processing over one million transactions per day, according to available blockchain data. While some of these transactions may be related to airdrops, the rise is still notable.
According to Ethereum block explorer Etherscan, on June 28 the ETH network processed little over one million transactions, a high it hasn’t seen since May of 2018, when ether was trading at about $800.
At press time, the cryptocurrency is trading at little over $300, meaning that while usage has been growing faster than ETH’s price. Ethereum’s daily transactions levels are still significantly below the record high registered in January of last year, when the network processed over 1.3 million transactions a day.
This peak coincided with ether’s all-time high above $1,400. Last year, the cryptocurrency’s price plummeted from said high to an $80 low in December before it started to recover, and has been climbing since.
The Ethereum network hit a monthly transaction high in December of last year, as 115 million transactions were confirmed that month, at a time in which unique addresses were on the rise. It’s worth noting this excludes the activity that followed the 2016 hard fork made because of the DAO hack.
As CryptoGlobe covered, however, a mysterious token airdrop recently took up nearly 60% of the Ethereum network. While airdrops like these may be helping the cryptocurrency’s growing daily transaction volumes, adoption is likely also playing a role.
Recently, two blockchain-focused startups, crypto payments firm CLIC Technology and blockchain infrastructure provider Opporty, partnered to release a browser extension that’ll allow users to shop on Amazon using Ethereum’s ether.
As covered, recently an investor bought ether at $5,200, as he or she purchased shares in the Grayscale Ethereum Trust (ETHE) for $499 on OTC markets. Each ETHE share has less than 0.01 ETH.