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Daily Ethereum Transactions Exceed One Million, a First Since May 2018

Daily transactions registered on the Ethereum (ETH) network exceeded one million yesterday, June 28, for the first time since May 2018, according to data reported by leading Ethereum block explorer Etherscan.

Per Etherscan data, on June 28 there were 1,004,170 transactions confirmed on the Ethereum blockchain. Before yesterday, the last time the Ethereum chain registered over one million daily transactions was in May 2018. Nonetheless, the current level is still notably lower than the 1,349,890 daily transactions peak registered on January 4 last year.

The on-chain transaction value of Ethereum hit a monthly transaction high in December 2018. That month saw 115 million transactions confirmed on-chain, an all-time high excluding activity following a hard fork caused by the DAO hack in 2016.

As crypto analytics firm Diar reported at the time, Ethereum volumes on decentralized applications (DApps) registered a new high in April with 776,000 ETH transacted. At the end of April, industry newsletter Diar also noted that on-chain transactions on the bitcoin (BTC) network hit fresh highs not seen since 2017 during the month.

Veteran trader and author Peter Brandt predicted in a new market forecast that Bitcoin (BTC) will continue to grow, but altcoins like Ethereum will not feel the benefits.

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