A lot of things have happened in the crypto currency world over the past three months. A lot of people attribute ETH's breakout to the EEA announcement or the

A lot of things have happened in the crypto currency world over the past three months. A lot of people attribute ETH's breakout to the EEA announcement or the ETF rejection. Those things while I'm sure they had some effect are unlikely the underlying driver of the recent price move. The current ETH price trend started in February. The other thing that happened in Feb. is that ETH's transaction volume started to rise after being essentially flat for the year prior. [0] The rise in ETH transactions roughly coincided with Bitcoin's blocks being consistently full and large backlogs in the Bitcoin transaction mem pool. [1] You can also look at Bitcoin's transaction volume graph and see that it's transaction volume has been growing throughout the year long bull market it is currently in. [2] ETH's price on the other hand was flat until February when it started to benefit from congestion in Bitcoin. Make of that what you will. [0] https://etherscan.io/chart/tx https://etherscan.io/chart/tx [1] https://blockchain.info/charts/mempool-size?timespan=1year https://blockchain.info/charts/mempool-size?timespan=1year [2] https://blockchain.info/charts/n-transactions?timespan=all https://blockchain.info/charts/n-transactions?timespan=all [3] https://etherscan.io/chart/etherprice https://etherscan.io/chart/etherprice