Monthly losses for the coin stand at 41%.īelow is the price chart for ETH over the last five days.ĮTH went down to a low of less than $1.1k during the crash over the past couple of days | Source: ETHUSD on TradingView Featured image from, charts from, CryptoQuant. Each transaction on the Ethereum network costs over 10 as of Asian morning hours on Wednesday ten times more than last week’s 1 level. The below chart shows the trend in the price of the coin over the last five days.īTC went to as low as below $21k before rebounding back to the current level of $22k | Source: BTCUSD on TradingViewĪs for Ethereum, the crypto is trading around $1.2k right now, down 32% in the past week. Over the past month, the crypto has shed 25% in value. 18 days later, the average fee to send ethereum is 54 higher at 4.52 per transaction. There has been a spike in the average transaction fee too, which has skyrocketed, shooting above 10. In the past quarter, it is not just Etherum’s price that has seen a meteoric rise. The network’s average fee rises above 10 for the first time since September 2020. 1, 2023, the average ether gas fee was 2.93 per transfer. Ethereum’s price rises in the past few days. Related Reading | Bitcoin Will Hit $100K In 12 Months, Ex-White House Chief Predicts, Despite Crypto Carnage BTC & ETH PriceĪt the time of writing, Bitcoin’s price floats around $22k, down 25% in the last seven days. dollars has increased, the cost to move ether and the myriad of ERC20 tokens has also risen. These transaction fees typically are worth just a fraction of the cost of the total token’s value. The “max fee” is the fee per gas that users can maximally attach when submitting a transaction on the Ethereum network. Ethereum Fees Spike To 2.6 Million In a Single Hour Due To Just One Transaction Ethereum, like many cryptocurrency networks, requires a small fee paid through a portion of the protocol’s native crypto token to send transactions. The value of the metric seems to have been raised over the past couple of days | Source: CryptoQuant Here is a chart that shows the trend in the ETH mean max fees per gas over the past few weeks: Much like BTC, the Ethereum blockchain also saw a huge increase in demand over the past day as investors rushed to sell during the crash. Looks like the average fees on the BTC network spiked up yesterday | Source: CryptoQuant The below chart shows this trend in the indicator. As pointed out by an analyst in a CryptoQuant post, the Bitcoin mean fees per transaction observed a large spike as the crypto’s price plummeted down.
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