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Ethereum transaction fees reached an all-time high of $6.87 million yesterday
UPDATED: August 13, 2020, 3:20AM EDT
<span class="acf-media-credit"><span class="acf-credit"><span class="acf-credit"><a href="theblockcrypto.com" target="_blank">The Block</a></span></span><span class="acf-credit"></span></span>
Ethereum transaction or gas fees reached an all-time high of $6.87 million yesterday, August 12, according to The Block Research.
The previous all-time high was during the market peak of 2017 â $4.55 million. The recent surge in Ethereum fees suggests that users are willing to shell out higher amounts to get their transactions completed in a period of decentralized finance (DeFi) boom.
In comparison, Bitcoin transaction fees have remained low. They were $1.43 million in total yesterday, which is 4.8 times lower than Ethereum fees on the same day.
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