💦💦This Data Is Being Overlooked With Ethereum's Rise: 4 Tokens Have a Big Impact! 💦💦
According to the latest data, increasing DeFi and speculative trading activities on the Ethereum network have increased transaction fees, but traders are not paying much attention to this situation due to the price rally.
According to a report by on-chain data and analytics platform Santiment, transaction fees on the Ethereum network have increased slightly in recent weeks. Although Ethereum has recently gained 15.6% in value, this increase has not attracted much attention among traders.
The report states that traders generally tend to ignore higher transaction fees when prices rise. The average transaction fee is currently around $3.23, which is significantly lower than the $15 peak seen in March.
The main reason for this increase is the high trading volume of important assets in the DeFi ecosystem, such as Wrapped Ethereum (WETH). In addition to WETH, tokens such as Hana (HANA), Virtual USD (VUSD), Incept (INCEPT), and Doggo (DOGGO) also contribute significantly to transaction fees. The activities of these tokens in areas such as DeFi, staking, NFT, and speculative trading indicate an increasing activity on the Ethereum network.
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