Possible Reasons For Record Decline of Ethereum Transactions

July 4, 2018

For the first time since January this year, the number of Ethereum network transactions became less than 500 thousand. It dropped to 489,559 transactions. Previously the number of daily transactions was usually at least 650,000.

Some users think, that this happened because of the increased transaction fees. At the moment the transaction fee in the Ethereum network is more than $3 and users consider this growth unfair, as the network works only on one third of its capacity. However, some users think that the real reason of the transaction fees growth might be a targeted attack on the network.

Previously the Ethereum network already faced this problem because of Binance. The cryptocurrency exchange set the transaction fee higher, than it was necessary.

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