Ethereum Fees Suggest DeFi Is Becoming The Playground Of The Rich
The high fees on the Ethereum network has become a concern after it had risen to the point where using ETH for small transactions became unfeasible. Users of the network realized that they were sometimes having to pay fees higher than the transaction amount, leading to calls for a solution. There have been numerous fixes […]
Related News
Over the summer months, Ethereum transaction fees ran hot, causing the DeFi trend and Uniswap token swapping boom to finally run out of steam. But as transaction fees begin to pick up again after a period of inactivity and downtrend, could it be a signal that another phase of DeFi dominance is about to start? […]
The average cost of sending a transaction over the Ethereum blockchain has fallen by 82% from a September 2 peak of $11.61, down to $2.09 as of October 4. The decline may be the result of a slow down in the hype around decentralized finance (defi) protocols. According to data from Glassnode, ethereum (ETH) miners have also seen a corresponding sharp drop in total earnings from fees over the past three weeks. On Sept. 17, miners raked in 42,763 ETH, or $14.97 million, in fees, but that tanked to just 5,898 ETH, or $2.06 million, as of Sunday. As a percentage of miners’ total revenue,....
Fees spiked to a high of $8.36 million for Uniswap on June 15, beating out Ethereum on the same day at $7.99 million, and coincided with an 8.7% pump for UNI. Decentralized exchange (DEX) Uniswap has overtaken its host blockchain Ethereum in terms of fees paid over a seven-day rolling average.The surge appears part of a recent spate of high demand for DeFi amid the current bear market. Decentralized finance (DeFi) platforms such as AAVE and Synthetix have seen surges in fees paid over the past seven days, while their native tokens, and others such as Compound (COMP) have also boomed in....
Ethereum continues to outpace Bitcoin in transaction fees, with DeFi mania helping push total fees to $166 million last month.
Ethereum is the most active platform ranked by the fees generated in the last six months, Token Terminal data shows. Ethereum Generates $742.9 Million in Fees In 180 Days Ethereum is a smart contracting platform where users can launch dapps serving various sub-sectors in crypto, including gaming, decentralized finance (DeFi), and more. Over the last six […]