CandleFocus Ethereum Users Face Higher Fees as Onchain Transaction Costs Rise
2024-09-24
Author: Content Editor
The article discusses the significant rise in onchain fees on the Ethereum network since September 15, 2024. The fees have increased from $1 per transaction to an average of $7.06 per transaction. This increase in fees coincided with a 15.9% gain in the price of Ethereum, outpacing Bitcoin's 9% increase. Certain transactions, such as swaps, NFT sales, bridging, and borrowing, come with even higher fees. In comparison, Bitcoin fees have remained stable. The article also mentions that Ethereum's network remains inflationary, but the London hard fork and fee burn have resulted in a net issuance of just 7.53 million ETH.
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