The daily transaction volume of Ethereum reached over 1.74 million on August 5, exceeding the record set in 2021.
The number of transactions in July reached 46.67 million, with 683,500 active addresses. The increase is attributed to the increase in block gas limits, along with DeFi activity and ETH treasury management strategies, helping Ethereum demonstrate strong appeal.
MAIN CONTENT
On August 5, the transaction volume of Ethereum peaked at over 1.74 million transactions per day.
July recorded 46.67 million transactions with 683,500 active addresses.
DeFi activity, Yield Farming, and ETH treasury strategies are the main growth drivers.
How did Ethereum achieve record high transaction volumes?
According to a report from The Block, on August 5, Ethereum recorded over 1.74 million transactions in a day, surpassing the peak of 2021. This is a positive sign indicating that the network is experiencing strong operational growth.
This breakthrough is due to increasing the block gas limit to 45 million, allowing for more transactions to be processed per block. This simultaneously reduces congestion pressure and enhances the scalability of the network. Additionally, stablecoins and ETH treasury management strategies also play a significant role in driving transaction volumes.
Experts at Presto Research analyze the increased DeFi activity, along with the demand for high-yield strategies, as the reason for the significant increase in on-chain transactions recently.
What are the detailed developments of Ethereum's July index?
July recorded a total of 46.67 million transactions on the Ethereum platform, while the number of active addresses reached 683,500 daily, indicating a very active network.
This index not only reflects the appeal of DApps but also serves as evidence of widespread participation from the community and institutional investors. The expansion of the gas limit allows for processing more transactions, increasing network operational efficiency.
The Kronos Research analysis team noted that progress in the legal framework of the United States, combined with the influx of institutional capital, is empowering Ethereum.
Ethereum continues to solidify its role as the most valuable infrastructure for DeFi, while attracting an increasingly larger source of institutional capital.
– CIO Kronos Research, 2024
What is the role of DeFi and ETH treasury strategies in the growth trajectory of Ethereum?
The expanding DeFi activity has become a key driver for the Ethereum platform as the demand for yield farming and staking services rises sharply.
Stablecoins and ETH treasury solutions are used by businesses and organizations to preserve and increase asset value. The total value of ETH owned by companies has exceeded $7.5 billion, demonstrating strong confidence in the growth potential of the ecosystem.
These smart financial strategies not only help increase liquidity but also enhance safety, creating momentum for transaction activities and the effective deployment of services on the Ethereum blockchain.
Frequently Asked Questions
What does the record increase in Ethereum transaction volume mean?
The increased transaction volume indicates that the Ethereum network is developing sustainably, with enhanced appeal to users and investors, increased scalability, and improved ecosystem.
How does the block gas limit affect the transaction volume?
Increasing the gas limit allows each block to process more transactions, reducing congestion, thereby enhancing user experience and increasing transaction speed.
What contribution does DeFi make to the growth of Ethereum?
DeFi drives the demand for transactions on the network, creating profitable strategies such as staking and yield farming, contributing to increased liquidity and stable value on the blockchain.
What is the total value of ETH held by businesses currently?
The total value of ETH publicly owned by businesses has surpassed $7.5 billion, reflecting a strong level of trust and interest from institutional investors.
What is the role of regulation and institutional capital in relation to Ethereum?
Progressive regulations in the United States and the influx of capital from institutional investors have driven stable growth and development for the Ethereum ecosystem.
Source: https://tintucbitcoin.com/ethereum-dat-174-trieu-giao-dich-ngay/
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