Uniswap token transaction cost jumps to $50

by in Cryptocurrency News

Uniswap

On Ethereum, transaction fees continue to rise due to network congestion. This trend the day before led to a record daily income of miners.

After the start of the distribution of Uniswap tokens, the income of Ethereum miners reached $ 938,000 in just one hour.

Analysts of the Glassnode platform drew attention to this. The cost of processing one transaction with Uniswap coins has grown to $ 50, according to data from the GasNow service. Observers point out that these are the most expensive transactions in the entire DeFi ecosystem deployed on Ethereum.

Ryan Watkins, representing the Messari team, stressed that high operating fees are undermining the trend for the long-term strengthening of the largest altcoin, Ether (ETH).

Trending: Grayscale reported an increase in investments in Ether

The analyst tweeted: "Ethereum is almost unusable right now. I can imagine how traders would react if they came to the market and faced $ 50 in fees."

In the crypto community, many believe that rising transaction fees are weakening the activity of small and medium users in the DeFi market.

If the problem of high commissions is not solved soon by Ethereum developers, then this network will become an arena for the activity of only major players or whales.