Digital Coin News

Ethereum fees drops to lowest level since October, ETH sustains above $3,200

  • 📰 FXStreetNews
  • ⏱ Reading Time:
  • 18 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 72%

Ethereum News

Cryptocurrencies

Ethereum’s high transaction fees has been a sticky issue for the blockchain in the past.

Ethereum supply is inflating despite relatively high throughput. Average fee has nosedived to $1.12 per transaction, lowest since October. Ether sustained above $3,200 on Sunday, up 4% in the past seven days. This led to Layer 2 chains and scaling solutions developing alternatives for users looking to transact at a lower cost. The issue seems to have de-escalated with Ethereum’s average fee level dipping to $1.12 per network transaction. This is one of the lowest levels noted since October 18.

A little over 120 million Ether is in circulation now and the sharp increase in supply can be attributed to the consistent decline in burn rate, in the past two weeks. Gas fees is currently 7.19 Gwei, up from a low value of 4.48 Gwei, as seen on Ultrasound.money. Gas fees is currently $0.62, as seen in YCharts, down from the May 2023 peak of $3.788.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 14. in COİN

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Ethereum may break out of consolidation as suspected Justin Sun wallet enters buying spreeEthereum's (ETH) recent price movement hints at a potential rally despite ETH ETPs recording outflows.
Source: FXStreetNews - 🏆 14. / 72 Read more »

ETH Price Skyrockets as Ethereum Foundation Initiates Sell-offEthereum's soaring price clashes with Ethereum Foundation's puzzling decision to convert ETH into stablecoins
Source: Utoday_en - 🏆 295. / 63 Read more »

Ethereum Layer 2 Transaction Explosion: 200% Surge Post-Dencun UpgradeCrypto Blog
Source: Crypto_Potato - 🏆 568. / 51 Read more »

Bitcoin Price Tests 200-EMA, Ethereum Stagnates, Kucoin Reserves DipBitcoin price tests a critical support level, while Ethereum faces criticism and Kucoin's reserves decline after charges from US authorities.
Source: FXStreetNews - 🏆 14. / 72 Read more »

Massive 10,701 ETH Transfer by Whale to Exchange as Ethereum Price DropsTiming of sale, however, resulted in whale realizing $4 million loss
Source: Utoday_en - 🏆 295. / 63 Read more »

ETH Poised for a Large Move Following Successful Defense of $3K Level: Ethereum Price AnalysisCrypto Blog
Source: Crypto_Potato - 🏆 568. / 51 Read more »