Earn Free Bitcoin

Fees for transactions on the Ethereum network hit a new all-time high on Tuesday, a development that comes as activity in the decentralized finance (DeFi) ecosystem continues to grow.

Blockchair, average fees hit $11.75 on September 1, with median transaction fees rising to $6.34.” data-reactid=”13″ type=”text”>According to data published by Blockchair, average fees hit $11.75 on September 1, with median transaction fees rising to $6.34.

$11 billion in trade volume across the DEX landscape. ” data-reactid=”14″ type=”text”>As previously reported, transaction costs began to rise precipitously earlier this summer — corresponding with the growth in trading on decentralized exchange (DEXs) and other protocols that comprise the DeFi space. August, for example, saw more than $11 billion in trade volume across the DEX landscape. 

Source: Blockchair, The Block Research[/caption]” data-reactid=”20″ type=”text”>Source: Blockchair, The Block Research

View photos

Median gas prices, denominated in gwei, also showcase the extent to which costs for transacting on Ethereum — from sending coins to constructing smart contracts — has shot up.

ETH Gas Station, which tracks such costs and offers estimates for how much should be spent depending on the desired transaction speed, currently suggests 479 gwei for a “fast” transaction and 400 for a “safe low” transaction. ” data-reactid=”38″ type=”text”>ETH Gas Station, which tracks such costs and offers estimates for how much should be spent depending on the desired transaction speed, currently suggests 479 gwei for a “fast” transaction and 400 for a “safe low” transaction. 

According to the site, decentralized exchange Uniswap and stablecoin operator Tether have spent the most on fees in the past 30 days, paying $12.7 million and $10.5 million, respectively.

” data-reactid=”40″ type=”text”> Source: Blockchair, The Block Research

View photos

Read More

Earn Free Bitcoin

LEAVE A REPLY

Please enter your comment!
Please enter your name here