February 27, 2021

Ethereum fees set a new record

Ethereum fees set a new record

As of February 4th, the average transaction cost on the Ethereum network is $ 17.5. Some exchanges have suspended the withdrawal of ETH and ERC-20.

On February 4, the price of ETH set a new high around the $ 1,700 mark. Airtime has grown by 20% over the past week.

According to YCharts, the average gas price reached $ 17.5 per transaction.

Ethereum fees set a new record

Commissions on the largest decentralized exchanges have skyrocketed. Uniswap and SushiSwap users now pay an average of $ 40 to $ 75 per transaction.

Japanese exchange Liquid has suspended the withdrawal of ETH and ERC-20 due to soaring commission prices. The exchange said in a statement:

The service will be restored as soon as the gas price returns to normal levels. All other cryptocurrencies operate normally.

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According to the materials cointelegraph.com