By&nbspRishma Banerjee

As per a reputed news source, the Ethereum platform of late has been witnessing a major boom in the number of transactions that are hosted on it. The platform is going through a much broader scale of activity, with its network reportedly covering over a million transactions in a day.

According to Etherscan, which is an analytical entity associated with the currency, noted that Ether’s platform, on the 28th of June, had in totality recorded over a million transactions, cumulatively. This is the highest traffic that has been recorded since last year. At press time, the coin’s trading value was slightly higher than three hundred dollars ($300), which basically signifies that the price movement which had been been slow to catch up to the network’s broader usage, has finally been fixed.

Despite the vastness of this new record, the current transaction levels that the platform pales in comparison to the peak witnessed in the January of 2018, when the platform’s daily transaction volumes had surged to a mighty 1.3 million. The month of December of the same year also saw a period when the platform’s transaction volumes had been going steady.

However, a mysterious slump hit the network in the following months which resulted in the wiping out of nearly two-thirds of the transaction volumes occurring within it. The coin’s adoption rates are supposed to be a factor of influence on such ‘airdrops’ that have been witnessed, and the rising transaction volumes of the current period are thought to signify a trend of stronger usage of the Ether currency.

Recently, two emerging firms in the digital currency sector, CLIC, which handles crypto payments, and Opporty, which builds blockchain based online infrastructure, teamed up to develop an online medium that would allow Amazon customers to pay using the Ether coin.

Rishma Banerjee

Rishma is currently pursuing a bachelor’s degree in International Relations and has a special place in her life for sifting through all sorts of random trivia, thank you very much.



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