Ethereum, also known as ETH, is getting more daily transactions than Bitcoin. Ethereum has averaged one million on the number of daily transactions in the last four days. The last time Ethereum had one million daily transactions was in 2018, the price of one Ethereum to USD was worth about $800.

Will the Number of transactions increase the price of Ethereum?

No, it is not certain, but there is a similar upward trend with the price of ETH and its number of transactions daily. The chart below shows the daily Ethereum transaction and the price of Ethereum to USD. The stats below is from etherscan.io, the statistics may be different on other websites.

Ethereum maximum daily transaction

The lowest transaction in a 24 hours Ethereum has ever gotten is 1329 transactions, it was recorded in August 2015. The maximum transaction in 24 hours was about 1.3 million, it was recorded on January 4, 2018. 

Ethereum daily transaction has been doubled since the start of 2020, ETH was getting an average of 500 thousand daily transactions in January 2020. Seeing the increase in the number of daily transactions could mean a lot for some ETH holders, this shows how people are able to adapt to ETH. Companies now accept ETH as a payment method, with the help of "coin payment," and other cryptocurrency payment gateway. With faster confirmation and low transaction fees, Ethereum should be a perfect choice for daily transactions online. 

Ethereum transaction fee

Ethereum is part of the types of cryptocurrency that takes transactions fee for each transfer that is made. The amount of fee that is payed does not depend on the amount Ethereum you are sending. Ethereum fees are charged to reward miners for adding each transactions on the blockchain. For each block that is mined, miners earn 2 ETH, the value reduces over time. ETH miners use large amount of electricity and advanced computers to confirm the blockchain transactions. 

The transaction fee for ETH has increased with a huge percentage since the starting of 2020, this could be the network condition, the data size of transactions and the time expected for the transaction to be confirmed. 

Ethereum 2.0 update

Ethereum 2.0 does not have an official lunch date, but it is expected to be launched in 2020. The Ethereum 2.0 is aimed toward improving the Ethereum blockchain by adding or improving New solidity deposits contract, Altona testnet v0.12, and Finding all the bugs.