While everybody is talking about Bitcoin mess and Litecoin rising, Ethereum Tokens still go on growing, reaching a very good average of 21.000 transactions per day!
(all data and screenshots are taken from https://ethplorer.io/)
Like you can see, the trend of daily transactions is bullish, and this is very important for Ethereum Network in general. You have to keep in mind that Ethereum was build to process Smart Contracts (tokens are smart contract), so this bullish trend mean that Ethereum is used (also) for what it was built. Another point to keep in mind is that these are “In Chain” transactions: no exchange transactions are included.
This is the chart of the most used Ethereum Tokens (ranked by daily transactions):
As you can see, Golem Token is the most used token, even if its platform is still in beta.
We often come back talking about Ethereum tokens activity, this is due it’s a value that we take note for several reasons:
- Is what Ethereum was built for. If no one would use tokens, the entire Ethereum Project should change its plans (and we should reconsider Eth as a long-term investment.
- Even if it’s still like nothing, Ethereum Tokens consume Gas like any other transactions. This means that in a case of a future POS system integration in Ethereum (where the ether should stop be generated by mining and miners should be rewarded only by Transactions Fees), a large (very large) volume of tokens moved daily is needed.
- Like wrote before, daily in chain transactions are a good factor to look at if you are trying to decide if a coin is a good or a bad investment. More transactions mean more adoption, that means more request and, generally, a price increase. If you are thinking invest in a token based on Ethereum we think you should take a look at its daily transactions trend. For now, until the projects behind the tokens are not fully operative, you should consider these tokens like a way to move funds.
At the moment, we are holding and occasionally buying only Ether and a little amount of Gnosis bought during its ICO. We are considering investing a little part of our funds (less than 5%) in every token who would have a bullish trend of daily transactions and anyway, no less than 7000-7500 daily transactions. Actually, no token meets these requirements, but we daily keep an eye open.
Stay safe, have a good day
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