MetaverseNFTCoins.com
  • NFT News
  • Crypto News
  • Blockchain
  • Regulations
  • Scams
No Result
View All Result
MetaverseNFTCoins.com
No Result
View All Result

Ethereum’s Median Fee Hit a 4-Month Low, while Address Activity Soaring to a 7-Month High

December 13, 2021
in Blockchain
Reading Time: 3 mins read
A A
Ethereum’s Median Fee Hit a 4-Month Low, while Address Activity Soaring to a 7-Month High
ShareShareShareShareShare

Despite making significant strides in 2021, high gas fees in the Ethereum (ETH) network have been a big headache.

Nevertheless, users have a sigh of relief because Ethereum’s median fees have dropped to $5.50 per transaction from highs of $34.18 last month. On-chain metrics provider Santiment confirmed: 

“Ethereum’s median fees have quietly come back down to an affordable $5.50 per transaction. This is a far cry from the $34.18 per transaction level that the ETH network was demanding near its AllTimeHigh just one month ago.”

Image

This drop-in fee has been advantageous in pushing Ethereum’s utility levels based on high address activity. Santiment added:

“With ETH fees coming back to earth rapidly with this December price correction, address activity has soared to 7-month high levels. Utility of Ethereum is far more appealing to traders with fees back down to $5.50 per transaction.”

Image

Ethereum has made notable steps this year, given that more money has flowed into its network compared to Bitcoin. This has been boosted by a couple of use cases like ETH being the backbone of the booming decentralized finance (DeFi) and non-fungible tokens (NFTs) sectors. 

Furthermore, Ethereum recently showed better performance in annual returns than Bitcoin, with a 663% gain. 

Ethereum 2.0 continues to scale the heights

According to crypto analytic firm Glassnode:

“The total value in the ETH 2.0 Deposit Contract just reached an ATH of 8,599,010 ETH.”

Image

Ethereum 2.0, also known as the Beacon Chain, was launched in December 2020 and was regarded as a game-changer that sought to transit the current proof-of-work (POW) consensus mechanism to a proof-of-stake (POS) framework.

The POS algorithm allows the confirmation of blocks to be more energy-efficient and requires validators to stake Ether instead of solving a cryptographic puzzle. As a result, it is touted to be more environmentally friendly and cost-effective. ETH 2.0 is also expected to improve scalability through sharding.

Image source: Shutterstock


Credit: Source link

ShareSendTweetPinShare
Previous Post

Mastercard Onboards Ava Labs as Part of Start Path Crypto Program

Next Post

Democratising real estate investment, regulating cryptocurrencies, the weekend’s cash rain

Next Post
Democratising real estate investment, regulating cryptocurrencies, the weekend’s cash rain

Democratising real estate investment, regulating cryptocurrencies, the weekend’s cash rain

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Weekly Updates

Grayscale, SEC will voice oral arguments over GBTC ETF conversion in March

Grayscale, SEC will voice oral arguments over GBTC ETF conversion in March

January 24, 2023
Charles Hoskinson Mirrors Deaton’s U.S. Crypto Regulatory Predictions

Charles Hoskinson Mirrors Deaton’s U.S. Crypto Regulatory Predictions

January 25, 2023
DeFi Can Solve $2T FX Risk Problem, According to Circle and Uniswap Research

DeFi Can Solve $2T FX Risk Problem, According to Circle and Uniswap Research

January 25, 2023
Elizabeth Warren Wants SEC to Double Down on Crypto Enforcement

Elizabeth Warren Wants SEC to Double Down on Crypto Enforcement

January 27, 2023
White House report says it would a ‘grave mistake’ to deepen ties between crypto, broader financial system

White House report says it would a ‘grave mistake’ to deepen ties between crypto, broader financial system

January 27, 2023
MetaverseNFTCoins.com

This is an online news portal that aims to provide the latest NFT news, crypto news, blockchain, regulations, scams, and much more stuff like that around the world. We promise to share only high quality content from the world's best crypto sources. Feel free to get in touch.

What’s New Here!

  • US Senator Focused on Crypto Money Laundering Crackdown — Urges Congress, Regulators to Take Action – Regulation Bitcoin News
  • Hackers Launder $27 Million in Stolen Ethereum From North Korean
  • NFT Collection A.N.I.M.O Price, Stats, and Review

Subscribe Now

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2021 - metaversenftcoins.com - All rights reserved!

No Result
View All Result
  • NFT News
  • Crypto News
  • Blockchain
  • Regulations
  • Scams

© 2021 - metaversenftcoins.com - All rights reserved!

  • bitcoinBitcoin (BTC) $ 23,766.00 3.28%
  • ethereumEthereum (ETH) $ 1,644.21 4.56%
  • tetherTether (USDT) $ 1.00 0.15%
  • usd-coinUSD Coin (USDC) $ 1.00 0.12%
  • bnbBNB (BNB) $ 317.72 4%
  • xrpXRP (XRP) $ 0.415098 1.37%
  • binance-usdBinance USD (BUSD) $ 1.00 0.02%
  • cardanoCardano (ADA) $ 0.396493 4.21%
  • dogecoinDogecoin (DOGE) $ 0.090318 2.63%
  • matic-networkPolygon (MATIC) $ 1.17 3.49%
  • okbOKB (OKB) $ 39.48 0.51%
  • solanaSolana (SOL) $ 26.12 9.33%
  • staked-etherLido Staked Ether (STETH) $ 1,640.52 4.47%
  • polkadotPolkadot (DOT) $ 6.62 3.94%
  • shiba-inuShiba Inu (SHIB) $ 0.000012 2.62%
  • litecoinLitecoin (LTC) $ 94.83 3.16%
  • avalanche-2Avalanche (AVAX) $ 20.89 2.5%
  • tronTRON (TRX) $ 0.063904 1.14%
  • uniswapUniswap (UNI) $ 6.94 5.3%
  • daiDai (DAI) $ 1.00 0.05%
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 23,691.00 2.94%
  • cosmosCosmos Hub (ATOM) $ 13.86 5.78%
  • the-open-networkToncoin (TON) $ 2.47 1.31%
  • chainlinkChainlink (LINK) $ 7.38 2.93%
  • leo-tokenLEO Token (LEO) $ 3.70 2.44%
  • moneroMonero (XMR) $ 186.47 1.27%
  • ethereum-classicEthereum Classic (ETC) $ 23.06 5.83%
  • aptosAptos (APT) $ 18.24 3.65%
  • bitcoin-cashBitcoin Cash (BCH) $ 135.96 3.06%
  • stellarStellar (XLM) $ 0.094463 1.88%
  • apecoinApeCoin (APE) $ 6.29 5.13%
  • quant-networkQuant (QNT) $ 151.74 1.64%
  • nearNEAR Protocol (NEAR) $ 2.56 4.52%
  • crypto-com-chainCronos (CRO) $ 0.082462 1.83%
  • filecoinFilecoin (FIL) $ 5.48 3.37%
  • lido-daoLido DAO (LDO) $ 2.31 3.95%
  • algorandAlgorand (ALGO) $ 0.260907 1.91%
  • vechainVeChain (VET) $ 0.024587 2.21%
  • internet-computerInternet Computer (ICP) $ 6.21 2.05%
  • hedera-hashgraphHedera (HBAR) $ 0.069667 3.9%
  • decentralandDecentraland (MANA) $ 0.801168 16.38%
  • axie-infinityAxie Infinity (AXS) $ 12.26 8.2%
  • the-sandboxThe Sandbox (SAND) $ 0.795608 8.92%
  • aaveAave (AAVE) $ 87.65 4.49%
  • fantomFantom (FTM) $ 0.487733 8.83%
  • eosEOS (EOS) $ 1.12 2.5%
  • flowFlow (FLOW) $ 1.11 5.06%
  • elrond-erd-2MultiversX (EGLD) $ 45.31 2.29%
  • theta-tokenTheta Network (THETA) $ 1.11 4.25%
  • tezosTezos (XTZ) $ 1.16 5.6%