@BOMBERuss 5 August 2022 more from that month

#Ethereum transaction fees have reached a minimum since December 2020. As of August 2022, the #network recorded a minimum average transaction fee of $3, which was the lowest level since December 2020, according to the data of the analytical company #Kaiko. The transaction fee peaked in May 2022, amounting to almost $2,000, which coincided with the sales of the Bored Ape Yacht Club virtual land. The reduction in transaction fees was truly a relief for the Ethereum network, as the community had previously expressed concern about the #fees, calling them prohibitively high. Consequently, low fees are likely to encourage adoption of the essence in sectors such as decentralized finance (#DeFi) and non-interchangeable tokens (#NFT). According to the study, the decrease in transaction fees occurred during the bear market and benefited such a sector as decentralized finance. The Ethereum network is betting that the "Merger" will reduce the supply of tokens and raise the price. If the price of #ETH rises, and the demand for the network increases sharply, since most of the economic activity will switch to the Beacon Chain blockchain, operating on the Proof-of-Stake principle, Ethereum may face a rapid increase in gas fees. #CryptoCurrency #PoS