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Friday, October 23, 2020

ETHEREUM, THE FIRST BLOCKCHAIN WITH $ 1T A YEAR TRANSACTIONS




The emergence of a decentralized financial space (DeFi) in the crypto industry resulted in the Ethereum network (ETH), DeFi's base network, processing more than twice the daily transaction volume of Bitcoin (BTC).


According to data from crypto market aggregator platform Messari, the average daily transactions over the past 30 days on the Ethereum network are in the range of $ 7 billion. If this trend continues, Messari predicts Ethereum will become the first public blockchain to break a transaction record of $ 1 trillion in just one year.



Ryan Watkins, a senior at Messari, said the large jump in Ethereum transaction volume was also related to the increase in the volume of ERC-20 stablecoins. Plus the Tether (USDT) transactions that are now on the Ethereum network.


Watkins also added that his booming on-chain liquidity platforms from Decentralized Exchange (DEX) such as Uniswap and Curve generated more than $ 20 billion in combined volume just in September.


If this number continues to grow, it is not impossible that Ethereum will set a new record with transactions of more than $ 1 trillion in just one year.

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