While the second-largest crypto asset by market capitalization, ethereum, has risen 27% against the U.S. dollar in the last two weeks, the network’s average and median-sized gas fees have increased by more than 50%. On the first day of 2023, the average fee to spend ether was around $2.93 per transfer, but today the average cost is 54% higher at $4.52 per transfer.is becoming more costly as the crypto asset’s value has risen greatly over the last 14 days.
As ethereum’s value in U.S. dollars has increased, the cost to move ether and the myriad of ERC20 tokens has also risen.from bitinfocharts.com indicates that on Jan. 1, 2023, the average ether gas fee was $2.93 per transfer. 18 days later, the average fee to send ethereum is 54% higher at $4.52 per transaction.
Bitinfocharts.com’s median-sized ethereum fee chart highlights a similar pattern. 18 days ago on the first day of 2023, bitinfocharts.com’sOn Wednesday, the same chart showed the cost has risen to 0.0013per transfer or roughly $1.96 using current ether exchange rates. That means the median-sized ethereum fee has jumped 84% since Jan. 1. Furthermore, while the gas measurement is usually estimated at a much lower rate, etherscan.
Algorand is so much cheaper to use and has a way better platform coming along nicely!
ERTHA, the best and most promising metaverse!!!
We need more efficient systems. If a massively popular new currency came out raising adoption, our current systems wouldn't stand a chance
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