Ethereum network fees hit an all-time high of $7.40
Ethereum's transaction fees climbed to $7.40 on average, marking the highest level since the network launched in 2015. Median fees reached $3.92, surpassing the previous record set on January 11, 2018
Ethereum's transaction fees climbed to $7.40 on average, marking the highest level since the network launched in 2015.
Median fees reached $3.92, surpassing the previous record set on January 11, 2018
Ethereum's transaction fees climbed to $7.40 on average, marking the highest level since the network launched in 2015. Median fees reached $3.92, surpassing the previous record set on January 11, 2018, when users paid about $2.59 per transaction.
The surge pushed total daily fees to $6.83 million, with miners collecting 17,493 ether from transaction fees. Blockchair data shows elevated fees for the past three months, driven by increased activity in decentralized finance protocols. Uniswap and Yam Finance generated the bulk of these fees over the past day.
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Ethereum's average transaction costs now exceeded Bitcoin's. CoinMetrics found that Ethereum fees have outpaced Bitcoin's cumulatively by more than $1 billion.
Miner revenue surged. Glassnode data shows fees now account for more than 42% of Ethereum miner earnings, a shift from the standard block reward model. The 24-hour moving average of fee-related earnings reached new highs in recent weeks.
The surge drew more miners to the network. As they deployed additional hardware to compete for rewards, the network's hashrate climbed to 204,993,2998 GH/s, the highest level since November 2018.
Ether traded around $388, up about 2% in the past 24 hours.
MiningPool content is intended for information and educational purposes only and does not constitute financial, investment, or legal advice.
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·Aubrey Swanson
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