Ethereum Network Fees Reach New All-time High
Main page News, Ethereum

The average fee on the Ethereum network has reached a new high of $7.4, according to data provided by Blockchair.

The previous record of $5.4 was reached on July 2, 2018.

Since the beginning of August, the average fee has increased more than fivefold, while since the beginning of the summer it has increased 17fold.

As a result, the amount of gas recommended for sending transactions on the Ethereum network has almost doubled over the past 24 hours, according to date from EthGasStation. Decentralized exchange Uniswap is the platform that has spent the most. The total amount of fees paid on its network during the month has hit $3.38M. The stablecoin USDT is in second place with $2.95M, while the third place is for the project Forsage.

In late July, when the fees on the ETH network reached levels of 2 years ago, the Ethereum co-founder Vitalik Buterin proposed to implement the EIP-1599 improvement.

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