Ethereum has been making a lot of headlines in 2021, especially due to the upgrade that the project is awaiting. The price of ETH also hit an important ATH, and this had the coin in the spotlight as well.
ETH network settles $2.5 trillion in Q2 2021
Now, it’s been just reported that there are some new numbers from cryptocurrency data firm Messari, which are showing the Ethereum network settled $2.5 trillion in transactions in the second quarter of 2021.
According to the reports coming from the online publication the Daily Hodl, Messari senior research analyst Ryan Watkin says the number suggests that the blockchain is now on track to hit $8 trillion in transactions by the end of the year.
“In Q2 2021 Ethereum settled $2.5 trillion in transactions. This represents +65% QoQ and +1,490% YoY, and puts Ethereum on pace to settle $8 trillion in 2021.”
Messari added that the rollout of layer-2 scaling solutions on Ethereum would immensely scale DeFi sectors.
“The most anticipated launches of these solutions are optimistic rollups which allow thousands of transactions to be bundled into a single rollup block.”
The online publication mentioned above notes that the stablecoin market capitalization “reached $107 billion in Q2, up by 803% year-over-year and 70% since Q1.”
The same notes reveal that the digital assets “facilitated $1.7 trillion in transactions throughout the quarter, representing an increase of 1,090% year-over-year and 59% since Q1.”
We also suggest that you check out the complete notes provided by Messari in order to learn all the available details.
Whales are accumulating Ethereum
In other recent news, it’s been just revealed that crypto whales are currently accumulating Ethereum. This is happening, although the price of the crypto continues to drop.
It’s been revealed that Santiment says Ethereum’s top 10 largest addresses went from owning as low as 18.46% of the total Ethereum supply after mid-May – when ETH achieved its all-time high – to 20.58% by July 13th. Check out our previous article for more news.