Amid a significant uptick in ERC20 tokens, especially meme coins, the expense of conducting transactions on Ethereum has notably increased, pushing the average fee to $22.19 for each operation. Further data indicates that executing a swap on a decentralized exchange (dex) platform could incur a cost of $66. Transfers and Dex Swaps Costlier as Ethereum […]Meme Token Frenzy Drives up Ethereum Fees, Testing Network’s Scalability
Amid a significant uptick in ERC20 tokens, especially meme coins, the expense of conducting transactions on Ethereum has notably increased, pushing the average fee to $22.19 for each operation. Further data indicates that executing a swap on a decentralized exchange (dex) platform could incur a cost of $66. Transfers and Dex Swaps Costlier as Ethereum […]
Fees tied to the Ethereum network have been under the $5 region per transaction during the last 175 days, according to statistics. Metrics show that on Dec. 10, 2022, the average ethereum transfer is around 0.0023 ether or $2.87 while the median-sized gas fee is around 0.00097 ether or $1.23 per transfer. Ethereum gas metrics […]
26 days ago, Ethereum transitioned from a proof-of-work (PoW) network to a proof-of-stake (PoS) blockchain and after the change, the network’s fees remained low. This week, however, Ethereum’s gas fees have increased as data from October 10 shows the average fee tapped a high of $4.75 per transaction. Ethereum’s Average Gas Fees Jump Over 80% […]
Following Ethereum’s transition from proof-of-work (PoW) to proof-of-stake (PoS) on September 15, the blockchain network’s transaction fees have been much lower than they were ten days before The Merge. Roughly four months ago on May 13, 2022, high-priority ether transactions could cost 68 gwei or $2.97 per transaction, and today at $0.18, a high-priority ether […]
With just over two weeks until The Merge, Ethereum network fees have reduced significantly as the average ethereum transfer fee has dropped to 0.00092 ether or $1.37 per transaction on August 28. Median-sized fees have slid to 0.00036 ether or $0.544 per transfer, and etherscan.io’s gas tracking tool notes a priority fee will cost 11 […]
In 43 days, the Ethereum network could finally see a full transition from proof-of-work (PoW) to proof-of-stake (PoS) via The Merge. Meanwhile, during the last 38 days, Ethereum’s layer one (L1) onchain transaction fees have dropped below the $5 mark and tumbled even lower by the end of July. At the time of writing, the […]
According to onchain statistics, there is a colossal amount of bitcoin, approximately 141,231 bitcoins or $3.3 billion at the time of publication locked into Ethereum-based tokens. There are roughly seven different wrapped or synthetic bitcoin tokens but the Wrapped Bitcoin project has the lion’s share of coins with 115,411 under custody. At the time of […]