Ethereum gas fees hit 50 gwei: Ethereum’s gas fees have skyrocketed to 50 Gwei, pushing swap costs to approximately 68 USD. This surge is mainly due to heightened demand and network congestion, as more users engage with DeFi and NFTs on the platform.
Impact on smaller transactions: HIGH fees are a challenge for smaller transactions, emphasizing Ethereum’s scalability difficulties. These costs could discourage users from making small trades, affecting accessibility. Ethereum 2.0 seeks to solve this by enhancing transaction efficiency and reducing fees.