Ethereum (ETH) On-Chain Transaction Volume Hit an All-Time High in December

Voyager
Voyager

Ethereum (ETH), currently the third largest cryptocurrency, saw its network hit all-time high on-chain transaction levels in December — excluding the DAO Hack period from 2016.

On-chain ETH transactions via Diar

According to a recent report by market research firm Diar, last month’s on-chain¬†transaction volume hit 115 million ETH, the highest since the network’s genesis.

However, despite the new peak, the total USD value of these transactions has fallen to a 22-month low. This is obviously due to the fact that the price of Ethereum has suffered a roughly 90% decline since the start of 2018

ETH on-chain value via Diar

Diar’s report also indicates that the Ethereum network’s total transaction count has dropped from roughly 35 million individual transactions to a projected 15 million in January 2019.

Taken together, the data reveals that more ETH is being moved around in fewer transactions, but the total value of these transactions is significantly depressed thanks to the ongoing bear market.

More: Ether On-Chain Transaction Value Hits All-Time-High

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

 
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