11/9/2023 0 Comments Ethereum transaction fee today![]() ![]() Consequently, this is rendering the network unusable for many retail Ethereum users, since it’s not profitable to pay more in fees just to process small transactions. The ridiculous increase in Ethereum gas fees is a result of the transaction load on the network, which is probably spurred by the rapid-growing amount of trades and activities on the DeFi and NFT market. It would also cost about $458 for token swaps and $400 to add/remove LP from the Ethereum-based decentralized exchange, Uniswap. Users lament over spike in Ethereum gas feesĪs seen at 14:15 UTC today, the transaction fee for ERC-20 token transfers increased to $147.32 at low priority and $148.87 at high priority. ![]() Due to the continuous frenzy in the non-fungible token ( NFT) and DeFi market, Ethereum gas fees were spotted at an insane level today, which would cost nearly $500 to process a transaction on Uniswap. About 9.23 ETH are burned every minute due to the spike in the network fee.įor days now, many Ethereum users have been complaining about the ridiculous gas fees which have rendered the network almost unusable for them.Ethereum gas fees were seen at high levels today, so much that Uniswap transactions cost nearly $500. In Ethereum, these transactions can be as simple as sending ether from one account to another, or as complex as making a contract perform something on your. ![]() For days now, many Ethereum users have been complaining about the ridiculous gas fees which have rendered the network almost unusable … Read more For example, a transaction could theoretically require 25,000 gas, but in practice only 21,000 gas is used to process the transaction. The gas, the gas price, and the gas limit all give you the final transaction fee. And the cost of the gas fee is the price of the gas used. About 9.23 ETH are burned every minute due to the spike in the network fee. The gas fee is the actual transaction fee. TL DR Breakdown: Ethereum gas fees were seen at high levels today, so much that Uniswap transactions cost nearly $500. Ethereum Average Transaction Fee is at a current level of 0.0007, up from 0.0005 yesterday and up from 0.0005 one year ago. ![]()
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