The total number of Ethereum transactions is going through the roof.
That is no coincidence. As explained by InvestingHaven’s research team in their Ethereum Price Forecast it appears that a growing number of Ethereum based applications are being launched and developed. “We clearly see a trend in the number of Ethereum based blockchain applications. We may lack specific data, because most of those applications are private in nature, and associated usage stats are not released.”
Ethereum is playing a major role in applications like predictive analysis, decentralized market places, cross border payment services, digital signature in transactions, digital rights management, crowdfunding, and many more.
It is true that the exact usage of Ethereum based applications remains largely unknown. However, there is one Ethereum chart which gives an indication of what is really happening in Ethereum land: the total number of Ethereum transactions.
As seen on below chart, courtesy of Etherscan.io, Ethereum has a relatively low usage (in terms of transactions) between January 2016 and 2017. However, as of March of 2017 the number of Ethereum transactions truly exploded. That is really no overstatement. In 3 months time the number of Ethereum transactions went up 4-fold.
This is also reflecting Ethereum’s price. The price rose sharply starting in March.
Ether is well on its way to become the standard in decentralized applications among cryptocurrencies. Moreover, it is well on its way to attract major investment demand. These are the underlying fundamental reasons for Ethereum’s explosion in its transaction chart.