Why I follow transaction count for crypto

Why I follow transaction count for crypto

by @controllinghand

https://coinmetrics.io/charts/#assets=btc,xrp,eth,eos,trx_log=false_roll=7_left=txCount_zoom=1525591552532.1245,1548104923960.6958

I like to keep track of the number of transactions that each crypto performs each day. This can tell you a lot about the adoption of each project. If it's being used the more likely it will succeed over others that are not being used.

Above is a chart on coinmetrics that shows the the number of transactions over a year time period. I selected 7 days average to smooth out the lines. Here are a few key observations to point out:

  1. EOS still number #1
    • In the July to September 2018 timeframe a lot of those transactions we spam and people testing the limits of EOS
    • Starting in October you can see that as DAPPS came online the number of transaction consistently grew
  2. Tron (TRX) is gaining ground
    • Starting in November 2018 you can also see the ramp up of number of transactions. Still not the number that EOS is hitting but a noticeable change that should be watched.
  3. BTC, ETH and XRP are the top 3 by market-cap but, are all under 1Million transaction in a day.

I'm not surprised that EOS and TRX have higher transaction because they are DAPPS capable crypto. However, ETH has been around for much longer and has failed to pass the 1Million transactions in a day barrier.

BTC and XRP are really not DAPPS type of cryptos and are all about moving value so I wouldn't expect a high rate of transactions until mass adoption.

Keep your eyes open on EOS and TRX.

Let me know your thoughts

~Controllinghand