The value of Ethereum’s on-chain transactions has clocked an all-time high in December 2018, according to crypto analytics firm Diar (Jan 21).

At the time, the Ethereum on-chain transaction volume hit almost 115 million ETH, the highest since the network began – if impact of the hard fork caused by the Decentralized Autonomous Organization (DAO) hack of 2016 is not taken into consideration.

Nonetheless, the total value in USD of Ethereum’s on-chain in 2018 came to $815 million, down from $1.1 billion the year before and fallen to a 22-month low – unsurprising considering Ether’s plunge in value over the past year.

Diar’s data also reveals that Ethereum network’s total transaction count fell from around 35 million individual transactions to a projected 15 million in January 2019.

Essentially such data shows that ETH is currently not just being transacted less often, the total value of these transactions is also depressed due to the ongoing bear market.