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Surge In Transaction Volume Of 4 Cryptocurrencies

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Despite a sharp fall in the prices of cryptocurrencies last year, there has been a surge in transaction volume of four leading crypto currencies, according to Weiss Ratings.

Four altcoin projects - EOS, Tron, BitShares and WAX - saw massive growth in user adoption throughout 2018, the independent rating agency said in a blog post.

Between February 2018 and March 2019, EOS saw its volume of transactions grow from less than 7,000 per day to nearly 4.6 million. That is 14 times more volume than that of Bitcoin, and eight times more than Ethereum's, the two top two crypto currencies.

During the same period, the softcoin Tron saw its daily transaction volume surge from 3,000 to 1.9 million.

WAX, a cryptocurrency used by a platform for trading gaming items, also recorded significant growth in transaction volume - to 4.4 million per day.

BitShares, one of the most widely used decentralized crypto exchanges, grew from 789,000 transactions per day to 1.5 million during 2018-19.

These four altcoins together grew their volume from 433,000 transactions per day in February 2018 to 12.4 million by March 2019.

Although the average cryptocurrency plunged 89.7 percent last year, the volume of user transactions among the most popular cryptocurrencies has grown dramatically since February 2018, the rating agency said.

Among the ten cryptocurrencies with the highest on-chain transaction volume in March 2019, the average daily volume was 245 percent greater than the average among the top ten of February 2018, according to the report.

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