The transaction volume on the Ethereum chain surged, and the gas fee hit a new high in the past month

Rhythm BlockBeats news, on February 5th, due to the recent surge in the transaction volume on the Ethereum chain, the transaction fee once again broke through a new high in the past month, and the single transfer fee exceeded for the first time yesterday (February 4th). 20 dollars. The average and median transaction fees on Ethereum are as high as $23.43 and $11.77, respectively.

Current Price Doubles Highest Transaction Fees Recorded During 2020’s “DeFi Liquidity Mining Boom” . According to OKLink data, the current recommended Gas fee is 264 gwei.

Ethereum network transaction cost The increase also reflects the growing demand for ERC-20-based tokens, particularly stablecoins and decentralized finance (DeFi), which have seen a sharp increase in demand. Led by tokens like Uniswap (UNI) and Aave (AAVE), DeFi’s total market capitalization is up 16.37% in 24 hours, according to Messari.

The gas fees of Uniswap, Tether and 1inch are the top three. In the past 24 hours, nearly 18% of the Gas fee consumption on the Ethereum chain came from the Uniswap platform.

Of course, miners are the main beneficiaries of skyrocketing fees, thanks to the popularity of the Ethereum network. According to previous reports, Ethereum miners earned about $830 million in January, 40% of which came from fees.

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