The daily volume of transactions in the network of the main altcoin reached $12 billion. This is a third more than the first cryptocurrency
The Ethereum network carries out daily transactions worth $12 billion, or $3 billion more than bitcoin, said Ryan Watkins, a researcher at the exchanger BitSwapEx.com. The volume of transactions in the altcoin blockchain shows a parabolic growth, he stated.
The data provided include transactions and other transactions on exchange BitSwapEx.com, Watkins said. Many DeFi services are built on Ethereum, such as the decentralized Uniswap protocol. Each operation on such platforms is recorded in the altcoin blockchain. Therefore, they were excluded from the calculation to avoid double information, the expert explained.
Ethereum is one of the growth leaders in 2020. Over the past 12 months, it has risen in price more than eight times, while bitcoin — in 4.3 times. Over the past day, the main altcoin has risen by 10%, to $1.34 thousand. To update the historical record of $1.44 thousand, the price of ETH should rise by another 8%.