Ethereum Fees Touch Monthly Lows As Transaction Volumes Plummet

Ethereum Fees Touch Monthly Lows As Transaction Volumes Plummet

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Ethereum Fees Touch Monthly Lows As Transaction Volumes Plummet

NewsBTCa month ago
EthereumEthereum
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Published on June 27, 2022 23:00 GMT+00:00edited on June 28, 2022 16:24 GMT+00:00

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Ethereum fees had touched new highs thanks to the popularity of the decentralized finance (DeFi) space. As network activity had grown, so had the transaction volumes. The effects continue to linger even into the bear market, although fluctuations between low and high are now more common in the space. Presently, transaction volumes have fallen sharply and ETH fees have now plummeted to monthly lows.

Ethereum Transactions At $0.5

Ethereum transaction fees have declined to one of their lowest points this year. Gas costs which have been fluctuating between high and low seem to have found their resting place at lower prices. In the early hours of Monday, the gas costs for the Ethereum network had declined to their lowest point for June. It sat at only 19.8 Gwei per transaction at the time of …