Santiment’s latest data published in Cointelegraph Consulting’s weekly newsletter indicates that Ether is ready for success.
Daily Ethereum blockchain transactions rose from an average of 3.85 million in July to 4.75 million in August, reaching a 5.7-month high of 7.74 million on Tuesday.
The gap between Bitcoin and Ethereum transaction volume has been growing for several months. Daily transaction volume on the Ethereum chain has accounted for 60% of Bitcoin’s transaction volume since reaching a record low of 0.6 on 30 August. This is the lowest level of transactional match between the two largest blockchain networks in the last two years.
This increase in transaction volume in the chain costs. ETH transaction fees are close to record highs again, with an average commission of $ 5.83 recorded on Monday, August 31st. In fact, Ethereum transaction fees have been rising in the last month; In August, the average daily transaction fee was $ 3.68 million, up from $ 1.08 million last month, up 240%.