Ethereum transaction fees drop to December 2020 levels
- July 4, 2022
- 0
On Saturday, June 2, the average transaction fee on the Ethereum network was $1.67. According to BitInfoCharts, the indicator was last at these values in December 2020. Data:
On Saturday, June 2, the average transaction fee on the Ethereum network was $1.67. According to BitInfoCharts, the indicator was last at these values in December 2020.
Amid the boom of the DeFi industry and the NFT boom, fees have been rising since January 2021. On May 1, 2022, the average wage amount was recorded as a maximum of $196,683. It then fell with the cooling of the market.
In June, NFT sales showed their worst performance in a year. According to NonFungible, daily trading volume as of mid-month was $13.8 million at approximately 16,200 transactions.
The total volume of funds blocked in DeFi protocols on the Ethereum network has dropped to $45.7 billion from early March 2021. The total figure is 72.8 billion dollars.
Data: DeFiL.
On June 26, the number of daily transactions in Ethereum amounted to ~920,000. Such low activity on the network was last observed in the fall of 2020.
As of June 30, miners’ daily income dropped to ~6784 ETH or ~7.2 million dollars (Glassnode). At the peak of the average wage on May 1, miners earned ~$269.3 million.
Recall that in February, Ethereum co-founder Vitalik Buterin made two proposals to reduce transaction costs using ZK-Rollups.
ForkLog talked about how technology-based solutions contribute to network scalability in a special way.
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Source: Fork Log
I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
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