Today marks a very exciting day that I for some reason have heard very little about! Ethereum processed 410,061 transactions in a single 24 hour period this past week which if you haven't been keeping notes is the HIGHEST daily transactions on a public blockchain EVER! This is big exciting news despite the recent under performance price wise in Ether. Every time we see a surge in transactions we usually see a following boom in prices!
Why are prices not rising on this "good" news?
Well part of that might be the fear that we are about to run up against the current limit of Ethereum. Until we get the Metropolis update (hopefully next month), we are seeing block creation times get longer due to a built in "ice age". I will not go into details but look through my previous posts and use google if you want to know more!
Will Metropolis boost prices?
In my opinion, yes. I believe that we are seeing now a boom in daily transactions which is shortly followed by a surge in price. Metropolis brings many updates, but for this article the most critical to focus on is the ability to scale the network. Metropolis update from my research indicates we will see at least 100x to some reports over 5000x the daily transaction capacity currently offered by Ethereum. Remember Ethereum this week just made the world record for daily transactions without a single hiccup so this news is welcoming to all HODLers of ETH!
What are your thoughts on how this may become a pattern with more and more transactions!
Great post Thanks for sharing
Great the Etherum is growing every single day
Sounds great for HODLers. Will be looking forward to Metropolis
Have you investments in Ethereum ? I lost the opportunity when the bitcoin did fall was my opportunity, wow BCH grew 300%
I do have Ether as well as Bitcoin, Bitcoin Cash and my Steem Power here! If you believe another rally and new high is coming soon as I do, buying under $300 asap will probably be a good move!
Thanks you is a good idea Ether is more strong every day with new patners and buyers
Agreed we are already back over $310 (hit $340 yesterday). I think if we can get a push over $350~ we should make a new high, possibly even this week!