Ethereum Gas Fees Hit $7 Average as Transaction Costs Surge
Amid its ongoing rebound, Ethereum gas fees have hit a $7 average as users are faced with increasing transaction costs. Since the middle of September, transactions increased, reaching heights of $5 and staying that way until they dropped slightly by the 23rd. Yet, Tuesday morning they increased again, reaching an average of 0.0027 ETH. Ethereum has long been known for its slow speeds and extensive costs. It is why networks like Solana have thrived when competing with the blockchain. Although ETH remains the second largest crypto by market cap, its ongoing issue with cost has many questioning its longevity there. Also Read: Ethereum Eyes $2800: Is a Major Rally on the Horizon? Ethereum Surges as Users Pay the Price With Surging Transaction Costs Despite a volatile year in 2024, Ethereum has enjoyed a notable turnaround. The asset has increased almost 12% in the last seven days, according to CoinMarketCap. Although it is down over the last 24 hours, it is still trading firmly above the $...