The rate of Etherium continues to grow, and against this background, another significant fact almost unnoticed is that the number of transactions in the network of the second cryptocurrency has reached 1 billion.
The Etherium blockchain was launched in 2015, and in May 2017 the average daily number of transactions for the first time reached 100,000. Already by January 2018, this number had increased tenfold.
However, with the fall of the cryptocurrency market, the average daily number of transactions decreased and ranged from 500,000 to 1 million until the summer of 2020. Only since June 2020 has the figure steadily exceeded 1 million.
At the time of publication, according to Etherscan, the number of transactions on the Etherium network has reached 1,000,085,000. The average commission is $4.02, the mining complexity is 4,682.18 TH and the hash rate is 364,882.51 GC/s.
On average, there are currently 1.3 million transactions per day on the Etherium network. The figure has been growing steadily since June 2020 and analysts attribute this to the boom in decentralized finance applications (DeFi).
Recall that on February 4, the amount of blocked funds in DeFi applications exceeded $32 billion, and against this background, the average fee on the Etherium network was $23.
If the current growth in the number of transactions continues, the Etherium network will reach the 2 billion mark in two years. However, before that, Etherium 2.0 must be fully launched.