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Decentralized Finance Frenzy Drives Ethereum Transaction Fees to All-Time Highs

Zack Voell and William Foxley
Updated ·1-min read

The average fee per transaction on Ethereum reached $6.04 Wednesday night, according to Blockchair, the highest fees since 2015.

  • Median transaction fees, which have stayed just below historic highs of $3.03, currently sit at $3.00.

  • Fees hovered below $1 until mid-July when transaction fees started to soar.

  • Fee increases coincide with surging activity on popular decentralized financial protocols like Uniswap.

  • At least three similar decentralized finance applications are included on a list of protocols with the highest levels of network utilization, curated by Etherscan.

  • While Ethereum developers have toyed with numerous technical options to reduce fees by scaling the network’s transaction capacity, a possible fix remains months away.

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