Ethereum Network Activity Surges as Transaction Fees Fall to 17 Cents

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The Ethereum mainnet clocked 2.2 million transactions in a single day in a new record this week, while fees have fallen to just 17 cents on average.

The layer-1 blockchain recorded its new transaction milestone on Tuseday, according to block explorer Etherscan.  Transaction fees have also dropped considerably over time. 

The highest transaction fees on Ethereum were recorded in May 2022, when users had to spend over $200 per transaction.

However, continued upgrades have dropped fees considerably, despite continued growth of the network’s usage.  



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Ethereum Network Activity Surges as Transaction Fees Fall to 17 Cents


The Ethereum mainnet clocked 2.2 million transactions in a single day in a new record this week, while fees have fallen to just 17 cents on average.

The layer-1 blockchain recorded its new transaction milestone on Tuseday, according to block explorer Etherscan.  Transaction fees have also dropped considerably over time. 

The highest transaction fees on Ethereum were recorded in May 2022, when users had to spend over $200 per transaction.

However, continued upgrades have dropped fees considerably, despite continued growth of the network’s usage.  



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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