ETH Trading Volume and Transactions on the Rise
According to reports, Tokenview data showed that the trading volume of ETH on the chain was 1.4706 million ETH yesterday, up 4.12% from the average trading vol…
According to reports, Tokenview data showed that the trading volume of ETH on the chain was 1.4706 million ETH yesterday, up 4.12% from the average trading volume in the past seven days. The number of transactions on the chain of ETH was 1.1417 million yesterday, up 8.24% from the average number of transactions in the past seven days.
The trading volume on the chain of ETH rose by 4.12% compared with the average trading volume in the past seven days
Interpretation of the news:
The message reports that the trading volume and number of transactions of ETH on the chain have increased. According to Tokenview data, on a particular day, the trading volume of ETH was 1.4706 million, which is 4.12% higher than the average trading volume of the last seven days. Similarly, the number of transactions on the chain of ETH was 1.1417 million on that day, indicating an 8.24% increase from the average number of transactions in the past seven days.
This increase in trading volume and transactions of ETH on the chain signifies optimistic progress in the blockchain space. Ethereum is the second most significant cryptocurrency and the most popular smart contract platform. It holds a vast network of decentralized applications, providing ample transactions and trading for users.
The rise in trading volume emphasizes the demand for ETH in both the retail and institutional sectors. The demand for ETH is probably due to the inception of decentralized finance (DeFi) applications and Non-Fungible Tokens (NFT). The DeFi applications offer users micro-incentives and micro-lending to increase liquidity, while NFTs have opened a new era for digital asset scarcity, which was not imaginable before.
Furthermore, the increase in the number of transactions is expected to encourage Ethereum to further its developments in order to handle scaling issues frequently faced by ETH traders. Ethereum currently holds multiple projects, including Ethereum 2.0, and its unique sharding and Proof-of-Stake (PoS) mechanism, aiming to enhance scalability while decreasing energy consumption concerns. The aforementioned project is anticipated to be completed within the upcoming months, which could further attract more transactions on the network.
In conclusion, the trading volume and transactions validation of ETH on the chain, according to the Tokenview data, indicates an optimistic future for Ethereum. It is expected to accelerate the development of the ethereum network, especially with the rise of DeFi and NFT popularity. Ethereum has a position in the crypto world, and this progression could make it a preferred platform amid other cryptocurrencies.
This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/crypto/817.html
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Related recommendations
-
Amazon to Launch NFT Platform, Beginning with 15 Digital Series
It is reported that Amazon\’s upcoming NFT platform will launch the first 15 NFT series in the digital market. Users can use it in the United States through Ama…
-
What is Bitcoin FN (Bitcoin FBI)
Bitcoin FN is a distributed ledger on the blockchain primarily used for transac
-
Why Code Bitcoin Cannot Be Copied (Why Bitcoin Cannot Be Mass Manufactured)
Why code Bitcoin cannot be copied, why code Bitcoin cannot be copied, and why is it not a technical issue In the The Internet Age, we can use software and hardware to change our lives. But when people talk about ‘decentralization’, it cannot achieve this goal – as most people now believe. If a system can transfer value to another system and create new currencies, goods, and services like other networks. That’s why we must accept this situation – rather than relying on these services or products themselves – in order for them to make their own choices This is because computer scientists know how to write smart contracts, and developers can easily modify the code. However, since the code may not always be open source, it is difficult to understand this – therefore, transactions on the blockchain are very complex and difficult to trace If you want to view this website, you need to download some free toolkits, including…
-
Musk to Step Down as Twitter CEO by 2023
On February 15, local time, Twitter CEO Musk said at the Dubai World Government Summit via video link that he planned to step down as Twitter CEO by the end of…
-
Understanding Today’s Panic and Greed Index: A Comprehensive Guide
According to reports, today\’s panic and greed index is 52 (yesterday\’s 63), with a decrease in the level of greed compared to yesterday, and the level remains greed.
Today, the pan -
Hedera Token Service Targeted by Smart Contract Service Code Attack
On March 10, Hedera disclosed the details of the attack. The attacker attacked the smart contract service code of Hedera\’s main network and transferred the Hede
-
Decline in Cash Usage and Rise of Digital Payments: Impact on Central Bank’s Assessment of CBDC
According to reports, Signe Krogstrup, President of the Danish National Bank, discussed some of the impacts of the decline in cash usage and the rise of digital payments on the cen
-
Data: ParaFi Capital transferred 2000 MKRs to Coinbase 2 hours ago
According to reports, according to Spoton Chain data, the address marked as ParaFiCapital unlocked 5000 MKRs 5 hours ago and transferred 2000 of them (approximately $1.43 million)
-
Solana Mobile Announces Release of Saga Smartphone with Web3 Integration
According to reports, Solana Mobile, a subsidiary of Solana Labs, announced that the Saga smartphone with Web3 support will be released on April 13th.
Solana smartphone Saga will b -
Ludus Acquires LookLabs for Further Expansion of Game Product Portfolio
It is reported that Ludus, a digital game incubator focused on investment, operation and providing game solutions, acquired LookLabs, a NFT game developer. The…