Ether (ETH)
In the wake of the recent market crash, Consensys has come forward and shared facts around the Ethereum network that will put some faith back into the network.
With the long “crypto-winter” closing in, we get a closer look at the numbers behind the technology and development so far.
As per etherscan, As many as 353 million transactions have been processed by the network to date. On January 4th, Ethereum hit its peak processing 1.3 million transactions in 24 hours with average daily transactions since June at 610,000.
In March 2018, the network transacted ~50 million ETH monthly with nominal month-to-month fluctuations. The average ETH per transaction has also doubled from ~2 ETH to 5 ETH per transaction.
The number of unique addresses on the network has also increased by 4x from ~13 million in December 2017 to 49 million today. The average ETH holding per address is at ~2.17 ETH. The average drops to ~1.87 ETH when not considering the top 10 accounts and ~1.59 ETH without the top 50. The average activity period per address has also increased from 11.25 days in 2017 to 35.45 days today. Smart Contracts deployment has also seen an increase with over 1.5 million deployed in November.
96 of the Top 100 tokens & 89% of the Top 1000 tokens by market cap are built off Ethereum.
Over 11,000 Miners are actively spread across six continents. They have collectively mined on average 620,000 ETH per month. In adoption numbers, Reddit’s r/ethereum community has grown to over 418k subscribers.
After the downturn of ICOs, investments were lead by VCs like Andreessen Horowitz who has invested $15 million into MakerDAO, which is built on Ethereum. Chris Dixon, General Partner at Andreessen Horowitz has also spoken highly of Ethereum calling it “a rallying point for the technology community.”
Last September, we covered the alliance between fifteen of the largest banks to form Komgo which is built on Ethereum and backed by Consensys.
Blockmanity’s Take
The cryptocurrency market as a whole is going through tough times. The numbers shared by Consensys shows us that Ethereum despite its market price is still growing. It’s just a matter of time when they solve their scalability issues and build the applications for mass adoption.
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Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
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