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<a href="https://bitcoinworld.co.in/fantom-gas-fees-are-surging-whats-driving-the-traffic/" title="Fantom Gas Fees Are Surging, What’s Driving The Traffic?" rel="noopener noreferrer nofollow"></a>
<ul>
 <li style="font-weight: 400">Fantiom reached 2.945 million transactions, bringing gas fees to unprecedented highs.&nbsp;</li>
 <li style="font-weight: 400">Fantom recently introduced the gas-heavy FRC-20 Protocol.</li>
 <li style="font-weight: 400">Gwei values soar, yet actual costs remain low.</li>
</ul>
Most recently, Fantom has seen a dramatic rise in transaction volume, leading to unprecedented highs in gas fees. This development came after an ordinal-like inscription protocol went live on the Fantom network.&nbsp;&nbsp;
<h3 id="span-style-font-weight-400-fantom-gas-fees-rise-after-frc-20-protocol-goes-live-span">Fantom Gas Fees Rise After FRC-20 Protocol Goes Live</h3>
On Thursday, November 22, Fantom’s blockchain witnessed a record-breaking number of transactions, reaching approximately 2.945 million. As a result, gas fees on the network surged to <a href="https://ftmscan.com/gastracker" rel="noopener noreferrer nofollow">11,000 gwei</a>, far above the normal amount.&nbsp;
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This surge in activity coincides with the introduction of the Fantom Inscription FRC-20 protocol, similar to Bitcoin ordinals. The FRC-20 protocol has sparked significant interest in crypto, offering new possibilities for token inscription and NFT creation.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 The current Fantom Gas charges have soared to over 6,500 gwei, which may be related to the Fantom Inscription FRC-20. On November 22, the number of transactions on the Fantom reached 2.945 million. Driven by the Inscription ASC-20, the number of transactions on the Avalanche…
 — Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1727624744978329839?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 23, 2023</a>
</blockquote>
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Despite the high gwei values, the actual gas fee cost on Fantom remains relatively low. This is considering that 1 Gwei equals 0.000000001 Fantom and that the current Fantom price is around $0.30. Therefore, the current gas fees on the Fantom blockchain, ranging from 11,000 to 12,000 Gwei, translate to approximately $0.0033 to $0.0036. 
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote>
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Fantom Gas Fees Are Surging, What’s Driving The Traffic?

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