The Ethereum network has been processing an average of more than 1 million transactions per day since June 2020. Ethereum, which reached an all-time high in terms of price, reached another milestone.
According to data from blockchain explorer Etherscan, the Ethereum network has reached 1 billion transactions today.
Ethereum blockchain was launched in 2015. It broke 100,000 daily transactions for the first time in May 2017 – then 1 million trades as the price rose to record highs in January 2018, topping over $ 1,000.
After the bull market’s place showed a downward trend, daily transactions cooled by an average of 500,000 to 1 million per day. But since June 2020, transactions have consistently peaked at over 1 million daily signs pushed up by the use of decentralized finance apps built on top of the blockchain.
DeFi applications such as Aave and Uniswap allow traders to earn interest on their assets and exchange assets without going through a central bank or exchange.
Instead, they rely on Ethereum’s infrastructure. And there are many processes that happen through such protocols. There are over $ 35 billion worth of locked-down DeFi protocols monitored by DeFi Pulse.