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Date:
22nd Apr 2021
Author:
Dalmas Ngetich, for CryptoAltum News Team

Ethereum Processed $1.5 Trillion of Transactions in Q1 2021

Targeting mainstream adoption, Ethereum outperformed traditional players like PayPal when ittrustlessly settledover $1.5 trillion of transactions in Q1 2021. The figure exceeds PayPal's at $936 billion--a megalith valued at $310 billion, which is a drastic improvement compared to the last seven quarters. Meanwhile, the Ethereum market cap stands at $263 billion at spot rates, pointing to undervaluation.


Details:

Ethereum serves many functions besides being a global computer. Acting as "sound" money, the network processed $1.5 trillion worth of value, exceeding PayPal's, pointing to undervaluation as the latter is worth more than the network. In 2020, Ethereum processed over $1 trillion worth of stablecoins as DeFi gained prominence. WithEthereum going mainstream, it stands to settle more as people shift from centralized solutions to reliable, trustless options.


Impact on ETH Price:

Bullish. Increasing adoption of Ethereum's wide range of products will only build ETH demand, driving ETH/USD prices above $2.5k towards $3.2k, and better by the end of the year.


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