The Ethereum network has been growing steadily since 2018
The Ethereum network has been growing steadily since 2018

The Ethereum network has been growing steadily since 2018

By Matteo Gatti - 4 Jun 2019

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The Ethereum network is growing in a number of ways. In these days, 65 million unique addresses have been exceeded. The number of addresses created daily is growing: in the last 30 days, on average, more than 100,000 new addresses have been created. On 1st June alone, more than 195,000 addresses were created.

This is a small record, to see a larger number you have to go back to January 2018 (225,000 addresses that day) and the market cap of Ethereum was much higher than today.

Ethereum: hashrate, price, transactions

The hashrate has been clearly growing for a couple of months, thanks to the rise in price, but we are still far from the record of August 2018.

ethereum network 2018

The number of transactions is also growing sharply, with 950,000 processed on 1st June, approaching the record levels of January 2018 when more than 1,250,000 transactions were executed in a single day.

ethereum network 2018

Usually, there is a close correlation between the number of transactions and the value of the cryptocurrency created by Vitalik Buterin, historically the two charts go hand in hand. In recent months, however, things have been misaligned: the number of transactions has grown sharply unlike the price of ETH.

ethereum network 2018

If the price had followed more or less faithfully the chart of transactions as in the past, 1 ETH should be worth about $800 – $900. Is a rapid recovery in sight?

Transactions, moreover, could soon be anonymous thanks to the minimal mixer, a new solution that developers are working on to anonymize transactions to improve the privacy of the network.

Ironically, the bitcoin price chart is much closer to the Ethereum transaction chart.

This is true because bitcoin did not collapse as much as ETH between July and September 2018 but remained more stable.

In essence, there is growing interest around Ethereum even if the price of the cryptocurrency, for now, does not seem to follow the trend faithfully.

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