The value of the settlement of transactions in Ethereum exceeded 536 billion dollars in the third quarter of 2021
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Answer The value of the settlement of transactions in Ethereum exceeded 536 billion dollars in the third quarter of 2021
The value of Ethereum settled transactions in the July-September period of this year amounted to $536.5 billion.
This is a 398% increase over the same period in 2020.
And that’s not the only impressive statistic that emerged from the third quarter results of the world’s largest smart contract platform.
The total transaction fee paid from users to miners increased by 511% year-over-year, which was good news for miners but not much for those using the network.
Network revenue in the period was $1.96 billion, up from $321 million recorded in the third quarter of 2020.Read:Tether USDT reviews a detailed report on its stablecoin reserves
The report also noted that 68% of these fees were burned after the publication of the “EIP-1559” upgrade in August.
At the time of writing this article, more than 710,000 Ethereum has been burned, worth an estimated $3 billion at current prices.
Late last week, Ethereum received its first upgrade to its “lighthouse” chain called “Altair.”
Ethereum release drop:
The rate of issuance of Ethereum decreased by 29%.
The report stated that the rate of expansion in Ethereum’s supply during the above-mentioned period decreased from 1.11% in Q3 2020 to 0.79% in Q3 2021.
The inflation rate is currently 2.1% per year.
This is expected to drop to a deflationary rate of -2% per year once the “upgrade” occurs and the network switches to a Proof of Stake mechanism.
The number of daily active addresses increased 24% from the same period last year to 457,402 addresses.
The hash rate has also increased by 180% compared to the third quarter of 2020, and is currently approaching record highs, with an average daily hash rate of 785 terahash/s.
The Ethereum ecosystem has grown exponentially during this period, especially for DeFi and NFT.Read:A drug dealer with cryptocurrency has been arrested on the dark web
The total value booked in DeFi increased by 1242% year-on-year, and the volume of decentralized exchanges grew by 242% for this period as well.Read:Poll: More than half of the respondents want to buy goods with cryptocurrency
The issuance of stablecoins jumped 405% in the third quarter compared to the same period last year.
The figures reported that the amount of Bitcoin tokenized on Ethereum increased by 133% from 123,500 in the third quarter of 2020 to 288,234 in the same period this year.
In addition to all the positive numbers recorded, the price of Ethereum currency witnessed a new record high at $ 4,467 on October 29.
Which means that Ethereum has gained 1,000% over the past 12 months.
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