As Ethereum gas prices rise, the chain that inspired Web3 is becoming gentrified, with high transaction costs pushing less wealthy users onto competing blockchains or scaling solutions. This means that many use cases are becoming unfeasible in the proverbial layer-one downtown, and suburban neighborhoods are being developed to allow for a cost-effective layer-two blockchain … [Read more...] about QuickSwap lets users avoid Ethereum transaction fees with Polygon
Fees
Whales Dominate DEXs as High Ethereum Fees Keep Retail Investors at Bay
The average trade size on Curve Finance ranges from $500,000 to $1 million, while deals on other prominent DEXs like Uniswap V3, Uniswap V2, SushiSwap, and Balancer V1 average between $10,000 - $20,000. That’s nearly ten times larger than the average trade size of $2,000 - $4,000 seen on centralized exchanges (CEXs). Source link … [Read more...] about Whales Dominate DEXs as High Ethereum Fees Keep Retail Investors at Bay
Avalanche, Layer 1 Tokens Soared in November as Ethereum Fees Drove Competition
“The amount of hype, as well as projects being built in the metaverse, gaming and NFT spaces, is bullish for these blockchains that are designed to build dApps on top of,” said Alexandre Lores, an analyst at Quantum Economics. NFT refers to non-fungible tokens, which can represent interest in property, clothing, weapons or other items within games and virtual-reality worlds. A … [Read more...] about Avalanche, Layer 1 Tokens Soared in November as Ethereum Fees Drove Competition
Ethereum founder Vitalik Buterin proposes fix for high gas fees
Crypto billionaire Vitalik Buterin has suggested a new short-term solution to curb soaring gas prices on the Ethereum network. The solution involves a new network upgrade that reduces the transaction calldata cost as well as limits the total transaction call data in a single block. Surging gas fee prices on Ethereum have constantly plagued the network where investors have been … [Read more...] about Ethereum founder Vitalik Buterin proposes fix for high gas fees
Bitcoin transaction fees are down by over 50% this year
According to YCharts data, the average transaction fee of Bitcoin (BTC) has dropped from $4.40 to $1.80 this year, a decrease of 57.97%. This rise may be attributed to a variety of factors. One explanation is that the fast expansion of the Bitcoin Lightning Network, in which transactions are off the blockchain, may have been a catalyst.For perspective, the Bitcoin network … [Read more...] about Bitcoin transaction fees are down by over 50% this year