Ethereum (ETH), the second-largest cryptocurrency, completed 4.5 times more transactions than Visa in 2021. The whole crypto industry is delighted to learn that Ethereum (ETH) has surpassed the major digital payment leader in terms of market value.
Significantly, in 2021, the prominent blockchain network Ethereum completed approximately $12 trillion in transactions. Last year, Visa processed around $10.4 trillion in transactions. As a result, it clearly reflects Ethereum (ETH) as a crypto-friendly currency since people are preferring it.
Ethereum (ETH) transactions outperform Visa
The remarkable performance of Ethereum made it execute more than 1.2 million transactions a day. In such an instance, the overall calculation is similar to 15 TPS, which is one of the major successes in the crypto market.
Furthermore, the Ethereum community celebrates the major victory, especially given the platform’s difficulties last year which includes scalability challenges, new entry into the smart contracts business, and an increase in market rivals.
Large volume transactions of Ethereum
Ethereum is also known for its advancements and upgrades, which are the primary causes of Ethereum’s large volume of transactions. It involves the London hard-fork EIP-1559 upgrade and the adoption of Layer 2 scaling solutions. These are two notable Ethereum updates that decreased the gas fee and increased the number of transactions in 2021.
According to the data, over 70 million Ethereum (ETH) addresses were added last week, representing a 35% rise in only one year.
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