Ethereum's On-Chain Transaction Volume Surpasses $238 Billion in July… Highest Level in Four Years
JOON HYOUNG LEE
Summary
- Unfolded reported that Ethereum’s on-chain transaction volume surpassed $238 billion last month.
- It was noted that this is the highest level in about four years since December 2021.
- An increase in on-chain transaction volume is interpreted as a positive signal for cryptocurrency prices.
Last month, Ethereum (ETH) recorded on-chain transaction volume exceeding $238 billion.
According to the crypto market insight platform Unfolded on the 6th, Ethereum’s on-chain transaction volume last month was about $238 billion, a 70% increase from the previous month. Unfolded stated, "This is the highest transaction volume since December 2021 and marks a four-year high."
Generally, an increase in on-chain transaction volume is interpreted as a positive signal for cryptocurrency prices. As of 8:54 PM on the same day, Ethereum is trading at $3,618.66 on CoinMarketCap, down 1.31% from the previous day.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
