In the last few days, Ethereum’s trading volume is on its way to reach new record levels.
The rapid increase in trading volume could pose serious difficulties for the Ethereum network.
Danny Ryan announced a launch date for the ETH 2.0 test network will be announced on Monday.
Despite the continued lateral price trend of ETH, the use of the Ethereum (ETH) has been increasing strongly for several weeks. This is shown in the analysis of ETH’s daily transactions. Although these reach an all-time high of around 1.35 million transactions per day in January 2018, new peaks are currently being recorded. Last Friday, around 1,070,000 ETH transactions were executed.
So far, the increase in trading volume has not had a clear impact on the price of ETH, which has been struggling with strong resistance at the $250 mark for some time. In the past, it has often been observed that new investors enter the market as transaction volume increases. This has not yet happened, but it could happen in the next few days and have a positive effect on the price of ETH.
However, the increase in transactions within the Ethereum network may also create problems. Due to the current technical infrastructure, Ethereum could reach its limits in terms of scalability. On the one hand, transaction costs and therefore the price of gas within the Ethereum network are constantly increasing.