Ethereum Sets New Record For Daily Blockchain Transactions

The cryptocurrency market is red-hot right now, with Ethereum (ETH) helping to lead the charge. That surge in popularity was readily on display this week, when the Ethereum network surged past 410,000 transactions during a 24-hour period — actually, it was 410,061 to be exact.

This is the highest number of daily transactions on record for any public blockchain to date. Ethereum’s performance put it more than 40,000 transactions ahead of Bitcoin’s record daily high. However, despite this performance for the record books, Ether hasn’t exactly budged much in value over the past week or so.

Over the past 24 hours, Ether prices have risen around 5.74 percent to $301.93. Ether prices hit $314 a week ago, before settling down to around $290. Over the past week, prices have slowly crept back up to the $300 mark.

The Ethereum rollercoaster ride has been quite spectacular — at least for those sitting on the sidelines — as the cryptocurrency burst onto the scene earlier this year and rose steeply to fly past the $400 mark in June. However, Ether hit some headwinds in July, crashing down to a low $130 and is currently on an upward swing.

Competing cryptocurrency Bitcoin (BTC) has also been experiencing a banner year. BTC was trading at an all-time high of around $4,300 earlier this week, and is now up 3.35 percent to $4,345.16 as of this writing.

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