Tag: ethereum fees

Nov 18 2022

Someone Paid 93 ETH In Fees For A Single Transfer On Ethereum, But Why?

Data shows someone has today paid 93 ETH in fees for a transaction on the Ethereum blockchain; here's the likely reason behind this seemingly abnormal transfer. This Single Ethereum Transaction Took A Fees Of 93 ETH To Be Possible At a first glance, 93 ETH in fees, and that too for a single transfer, seems simply absurd. Even for the Ethereum network, which...

Oct 25 2022

Merge Aftermath: Ethereum Fees, Supply, And The Network At Large

The Ethereum Merge was one of the most anticipated upgrades in the history of crypto. Once the upgrade was successfully completed, Ethereum moved from being a proof of work (PoW) blockchain since inception to being a proof of stake (PoS) blockchain. Naturally, this move had some implications for the network and its users. A Better Ethereum There is no doubt that the move...

Jul 20 2022

Polygon Introduces zkEVM, an L2 Scaling Solution That Could Reduce Ethereum Gas Fees by 90%

Summary: Polygon has unveiled zkEVM, a layer 2 scaling solution that users zero-knowledge proofs to scale and reduce transaction costs on Ethereum. Polygon's co-founder, Mihailo Bjelic, has described zkEVM as the 'holy grail of Web3 infrastructure.' Polygon zkEVM is estimated to reduce Ethereum fees by 90% compared to current costs on Ethereum's layer 1. The Polygon (MATIC) team has unveiled a revolutionary way...

Jun 01 2022

Gas Relief: Ethereum Fees Fall To July 2021 Lows

Jun 01 2022 Published at Bitcoinist.com under tags  eth ethereum ethereum fees eth fees ethusd

Ethereum gas prices have been dropping for a while. The aftermath of the Terra collapse has been riddled with various lows occurring due to the market crash it had triggered. One of these has been the decreased usage of decentralized finance (DeFi) networks as investors are still reeling from the crash. This has obviously translated to lower fees on the Ethereum network given...

May 30 2022

Ethereum Transaction Fees Near One-Year Lows, Good News For Price?

Ethereum still boasts one of the highest transaction volumes in the crypto space but recently, the blockchain has been seeing a decline in its transaction fees. The fees decline significantly which has been a welcome development for users of the network. However, this decline has sparked concerns regarding what types of effects it could have on the price of the digital asset. Ethereum...

May 04 2022

By The Numbers: Yuga Labs Breaks Ethereum, Gas Fees Set New ATH

May 04 2022 Published at Bitcoinist.com under tags  eth ethereum ethereum fees eth fees ethusd

The Yuga Labs “Otherdeeds” mint on the Ethereum blockchain has set a new record for any NFT launch. Not only did it set the record in terms of revenue but it had also broken records previously set in terms of fees. It was the sole driver of the transaction fee surge on the network which reached a new ATH. In this report, we...

Ethereum Founder Vitalik Buterin Says ETH Gas Fees Should Cost Less Than $0.05

Vitalik Buterin says ETH gas fees below 5 cents are acceptable.

Jan 20 2022

Ethereum May Be Losing Out To Competitors Due To High Gas Fees, Says JPMorgan

JPMorgan has piled on the ethereum high gas fee issue as a reason why it could end up losing out to competitors like Solana and Cardano. These other projects past significantly fewer transaction fees than ethereum, being one of the major pull points for investors. Due to this, it is increasingly losing users to other platforms who have found they can carry out...

Dec 03 2021

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 put forward to curb this issue, the most...

Nov 11 2021

Ethereum Fees Spike Significantly Following Success Of ENS

Nov 11 2021 Published at Bitcoinist.com under tags  ens ens airdrop eth ethereum ethereum fees

The ENS airdrops have been one of the most anticipated airdrops on the Ethereum network. Owners of .ETH domain registered before October 31st was able to claim the tokens. Social media was abuzz with talk of the airdrop and the valuable tokens. The website where claims could be made went up on November 8th and users have been claiming their tokens since then....

Nov 08 2021

Ethereum Breaks New All-Time High As Gas Fees Plummet

Ethereum has taken the recent rally in the crypto market one step further. The digital asset had been chasing multiple new all-time highs in the past week, breaking above $4,600 for the first time ever on Wednesday. This milestone was important for the asset as it showed Ethereum still had more steam left in it after suffering multiple dips at the end of...

Aug 30 2021

Ethereum Gas Fees Skyrocket, Is This The Season Of The “ETH Killers”?

Ethereum is one of the most widely used blockchains in the crypto space. An increasing number of users enter the network each day. Amidst this, there have always been growing concerns about ETH fee rates. Fee rates have usually gone up in times of high network congestions. But recently, with the growing popularity of NFTs, these fees have gotten out of control. Since...

Jul 24 2021

The Purpose Ethereum ETF Now Holds Over 62k ETH

The Purpose Ethereum ETF now holds over 62,000 ETH worth roughly $133.9 million The Ether ETF offers investor exposure to Ethereum and is listed on the Toronto Stock Exchange Interest in ETH continues to grow grown as Ethereum transitions to a Proof of Stake algorithm Ethereum might not dump after the London Upgrade on August 4th due to fundamentals and future growth The...

Jul 08 2021

Ethereum’s Conflicting On-chain Metrics Hint at a Retest of $1,750

Ethereum's current on-chain metrics provide a 50:50 probability of ETH going either way However, similarities between the 2017/18 cycle and the current environment, point towards a dip by Ethereum Ethereum has also printed a rising wedge pattern that provides further proof of a pending pullback to lower levels of $1,750 Implementation of EIP1559 could be a 'sell the news event' but time will...

Jun 28 2021

Ethereum (ETH) Gas Fees At Their Lowest Since December 2020

Gas fees on the Ethereum network have dropped to levels last seen in December 2020 However, social sentiment towards Ethereum remains at historic lows Ethereum is once again trading above $2k with $2,400 to $2,500 a likely short- term target There is a death cross forming on the daily ETH/USDT chart Gas fees on the Ethereum network have decreased significantly since their peak value...

May 12 2021

Ethereum Might Pump to 2017 Levels of 0.12 BTC – Bitcoin S2F Creator

ETH/BTC pair is hovering at levels last seen during the 2017/2018 bull market According to PlanB, Ethereum at current levels of 0.08 BTC could open the doors to 0.12 BTC He however cautions that a pullback is usually the next phase after an altcoin peaks against Bitcoin An increase in Ethereum withdrawals from exchanges hints that a top is not in for ETH...

Apr 22 2021

Ethereum (ETH) Settled Transactions worth $1.5T in Q1, 2021

The Ethereum network has settled $1.5 Trillion in transactions in the first quarter of 2021 This amount exceeds the last 7 quarters combined and the highest to date, in a quarter Ethereum could settle $6 Trillion by the end of 2021 According to Arthur Hayes, Ethereum is the most developed smart contract network in the blockchain industry The Ethereum network settled a staggering...

Mar 23 2021

Ethereum Blocks are Consistently Full Due to DeFi – Report

Summary: Ethereum blocks are consistently full since the rise of DeFi in mid-2020 The majority of Ethereum blocks are at 95% or more Blocks can only include a specific amount of transactions and users are consistently paying higher fees to get their transaction processed quicker Transaction fees now make up 50% of Ethereum miner revenue Blocks on the Ethereum network are consistently processing...

Mar 09 2021

Ethereum Signs Death Warrant For Gas Tokens – How Did Fees React?

Ethereum governance put forward a proposal on Feb 26 for removal of gas refunds, because of their negative effects on the blockchain. It was authored by Vitalik Buterin and Martin Swende. There is a high likelihood that EIP 3298 will be implemented in the London hardfork....

Ethereum Fees Issues? Developers Consider Ending This Dirty Trick!

Ethereum governance put forward a proposal on Feb 26 for removal of gas refunds, because of their negative effects on the blockchain. It was authored by Vitalik Buterin and Martin Swende. There is a high likelihood that EIP 3298 will be implemented in the London hardfork....

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