Fallout: Ethereum fees skyrocketed as traders raced to unwind leveraged positions
Ethereum fees surged to record highs amid the recent crypto downturn, with users paying more than 2,000 gwei to execute transactions at its peak. Digital asset research firm, Delphi Digital, noted gas prices oscillated between 1,500 and 1,700 gwei for approximately one hour as DeFi liquidations drove “gas wars amongst liquidators and arbitrageurs.” Ethereum gas […]
Ethereum posts new highs as DeFi gas fees top $1,000 on complex protocols
Ethereum’s gas fees are again spiking to record highs, rendering many decentralized finance protocols unusable for casual investors. After increasing roughly 20% in the last 24 hours, average Ethereum transaction fees are now sitting at a record $17.67. With many DeFi projects requiring the execution of complex smart contracts, there are reports fees associated with […]