Ethereum transaction uptick sees network gas fees hit multi-month high | Headlines | News | CoinMarketCap
02/12/2024 19:56
Ethereum transaction volume has increased since the beginning of February, with network gas fees hitting a multi-month high. According to The …
The Block34 minutes ago
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Published on February 12, 2024 12:22 GMT+00:00edited on February 12, 2024 12:31 GMT+00:00
Ethereum transaction volume has increased since the beginning of February, with network gas fees hitting a multi-month high.
According to The Block's Data Dashboard, the seven-day moving average for the economic throughput on the Ethereum blockchain has reached a high of over $3.55 billion. This is an increase of over 15% from a seven-day moving average of $3.08 billion at the beginning of the month.
The uptick in transaction volume over the past weeks has caused a spike in Ethereum network gas fees. The seven-day moving average of this metric has increased to a multi-month high of over $11. This is an elevated level not seen since mid-December 2023, according to The Block's Data Dashboard.
Gas fees spiked significantly on Feb. 9, according to YCharts data. On Friday, total …