🚨Ethereum Fees Up 498% in Two Weeks on Increased Network Activity
The surge in activity on the Ethereum network was accompanied by a 498% increase in ETH gas fees. Will the price of ETH respond?Ethereum network transaction fees have increased significantly over the past two weeks following an increase in on-chain activity, according to Coinbase.
Coinbase’s weekly report, published on September 27, notes that Ethereum gas fees between September 16 and 26 were 498% higher than the monthly average, with the average transaction cost increasing from $0.09 to $1.69.
“ETH gas fees have topped out at 30-40 gwei and then dropped back down to 5-10 gwei, numerous times over the past 7 days.”
