IntoTheBlock: The Ethereum network becomes unusable for users
The average transaction fee on the Ethereum network last week was $28. Due to the high price, the network becomes simply unsuitable for most users, analysts of the IntoTheBlock browser lament.
From March 2 to March 9 this year, the volume of commissions on the Ethereum network reached $193 million. This is the highest value since May 2022. In just a week, the volume of commissions increased by 78%.
The increase in the size of commissions, according to IntoTheBlock experts, is caused by a new wave of memcoin hype and an increased number of transactions with this type of asset. In just a week, such meme coins as SHIB, PEPE, FLOKI increased in value by 35%, 30% and 95%, respectively.
Due to the commission burning mechanism, IntoTheBlock analysts argue, the offer decreased by 33,000 ETH ($125 million) last week. The reduction of commissions in L2 solutions is worth waiting for after the launch of the Dencun update (March 13 this year). The update includes the Proto-Danksharding option, created to scale the main Ethereum network.
Source: https://bits.media/intotheblock-set-efiriuma-stanovitsya-neprigodnoy-dlya-polzovateley-/
