Here’s Why The Rapid Decline In The Ethereum Fees Could Be A Problem

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Bitcoinist 10h ago

Here’s Why The Rapid Decline In The Ethereum Fees Could Be A Problem - Bitcoinist

Quick Summary:

The Ethereum gas fees for transactions have dropped massively amidst a broader decline in the cryptocurrency’s price.

According to recent data, the base fee paid by users has fallen to an astonishingly low 0.82 Gwei, a clear indication of reduced activity on the Ethereum network.

On-chain data from IntoTheBlock indicates a sharp fall in the number of transactions greater than $100,000, with numbers dropping from 16,990 transactions on Monday to just 2,620 transactions by Saturday.