Ethereum fees practically doubled on the network striking a new all-time high

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Title: Ethereum costs nearly doubled on the network hitting a new all-time high.
Sourced From: cryptodaily.co.uk/ 2021/01/ethereum-fees-almost- doubled-on-the-network-hitting-a-new-all-time-high.
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Quick take
1 minute read
Network charges on Ethereum are getting prepared to continue climbing up. This $17 per deal is an all-time high in typical network costs.
Network costs on Ethereum are preparing to continue climbing up with the average worth maximising at just over $17 per deal according to current information. This $17 per transaction is an all-time high in typical network fees beating the previous record of $12.54 back in September throughout the huge buzz train of DeFi. The typical deal expense on the network almost doubled throughout the spike in trading volume.
Yield chasing on many DeFi platforms even more contributed to the deal load of stablecoin transfers. As an outcome of this, it made the Ethereum network even more actively used than previously. And because of this, costs increased.
The fee spike on Monday triggered the DeFi NFT project called Aavegotchi to postpone the launch of its mainnet..
The launch of Ethereum 2.0 at the end of in 2015 is thought to assist improve scalability on the blockchain and press down the typical transaction costs. Obviously, this procedure has already begun however some are expecting that the upgrade will take years to reach complete actualisation. This spike in Ethereum transaction fees and trading volumes comes prior to the launch of CME ETH futures which are set to go ahead later on in 2021.
Currently, Ethereum is priced at $1037 at the time of composing following a 4.51% increase over the previous 24 hours. Over the previous few weeks, the world of cryptocurrency has been spun into bullish fever. It will be intriguing to see where it goes next.

Network fees on Ethereum are getting all set to continue climbing up with the average value maximising at simply over $17 per deal according to recent data. This $17 per deal is an all-time high in average network costs beating the previous record of $12.54 back in September throughout the enormous hype train of DeFi. The typical deal expense on the network nearly doubled throughout the spike in trading volume.
The launch of Ethereum 2.0 at the end of last year is thought to assist improve scalability on the blockchain and push down the average transaction expenses.