TL;DR: “Etherscan couldn’t go any further than the last 100,000 transactions. There are some 5.4 million in total, but we can’t see when they began,” Trustnodes reported. Analysts suspect stablecoin tether’s (USDT) shift from Omni onto Ethereum is causing backlogs, as USDT transactions are “taking about 50% of the entire network capacity.” Tether clogging ethereum was somewhat expected, and some enthusiasts are insisting this is a good problem to have.
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