Ethereum Gas Cost Skyrockets in a Short Time
According to the report, the data of Ultrasound. Money shows that the current Ethereum Gas cost has risen to 38Gwei, rising 137.5% in 10 minutes.
Ether…
According to the report, the data of Ultrasound. Money shows that the current Ethereum Gas cost has risen to 38Gwei, rising 137.5% in 10 minutes.
Ethereum Gas fee soared 137.5% in 10 minutes
Interpretation of the news:
The recent report reveals that the cost of Ethereum Gas has unexpectedly surged in a short period. The data from Ultrasound. Money shows that the rate has risen to 38Gwei, which signifies a 137.5% surge in just 10 minutes. This news has shocked the Ethereum community, and everyone is left wondering about the reason behind such an abrupt rise in the gas cost.
For those who may not be aware, Ethereum Gas is a term that refers to the price required to complete a transaction on the Ethereum blockchain network. It is calculated based on the demand and supply of the network resources, and it may fluctuate from time to time. It is quite common to see an increase in gas costs during periods of high network congestion. However, a 137.5% increase in just 10 minutes is certainly alarming.
One possible reason for this sudden surge could be a spike in the number of active users on the Ethereum network. As more people try to complete transactions at the same time, the demand for network resources increases, causing the gas cost to rise. Another cause might be linked to the recent boom in NFTs (non-fungible tokens) on the Ethereum network, which has led to a significant increase in the number of transactions.
Regardless of the reason behind this sudden jump in gas costs, it undoubtedly sends a warning signal to the Ethereum community. These sudden increases can lead to higher transaction fees, which could discourage new users from entering the network. Additionally, such fluctuations can make it challenging for developers to build reliable decentralized applications on the Ethereum network.
In conclusion, the report indicating a rise in Ethereum Gas costs is undoubtedly concerning news, and the Ethereum community should take note of any such fluctuations going forward. While Ethereum has been a significant player in the blockchain industry, it must maintain its position as a reliable and secure network to remain successful in the long run.
This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/171/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Recommended articles
-
Arrest of Do Kwon in Montenegro: Everything You Need to Know
According to reports, South Korean officials confirmed that Do Kwon was arrested in Montenegro. The police have requested Montenegro to provide fingerprint information to confirm w
-
Bank of America Predicts Token Market Growth
According to reports, Bank of America (BAC) said in a report on Friday that the cryptocurrency market started much better than most people expected this year, …
-
Safeheron discovers vulnerability in multi-signature wallets
It is reported that Safeheron, a developer of multi-party computing (MPC) wallets, said that some multi-signature wallets could be attacked by Web3 application…
-
Gemini Reveals Plans to Open a Derivatives Platform Abroad
According to reports, Gemini, the cryptocurrency exchange, revealed on Friday that it plans to open a derivatives platform abroad. The company stated that the first product of the
-
Utah Governor Spencer Cox Paves the Way for Blockchain and DAO Innovation with New Bills
According to reports, the Governor of Utah, Spencer Cox, signed two bills related to blockchain and DAO on Wednesday, seeking further support for innovation in developing technolog
-
The United States Government’s Bid to Suspend Voyager’s Asset Sale to Binance US
According to reports, District Judge Jennifer Rearden of the Southern District Court of New York approved the plan proposed by the United States Department of Justice to suspend th
-
IRS Launches Pilot Program to Combat Cryptocurrency-Related Financial and Tax Criminal Activities
According to reports, the US Internal Revenue Service (IRS) has announced a new pilot program starting this summer and will dispatch four commissioners to Australia, Singapore, Col
-
Ant Group’s Whale Exploration Launches New Digital Collectibles: What You Need to Know
According to reports, Ant Group\’s digital collectibles platform, Whale Exploration, is promoting product updates and iterations, with the first changeable digital collectibles avai
-
U.S. SEC Concerned about Bank Exposure Risk of Circle’s USDC
According to reports, according to Andrew, the founder of Crypto KOL and Twitter marked as X 3, disclosed on social media, the source said that the U.S. Securi…
-
Moonbeam’s Poca Ecological Smart Contract Platform Announces First Batch of Ecosystem Grant Applications
On March 26, Moonbeam, the Poca Ecological Smart Contract Platform, said on Twitter that the Community Appropriation Committee had announced the results of the first batch of ecosy
-
Ark Invest Increases Holdings in Coinbase despite Drop in Shares
It is reported that Ark Invest, an asset management company of Cathie Wood, continued to increase its holdings of Coinbase shares in its funds. After the incre…
-
Suspicion of Illicit Crypto Transactions by Sun Yuchen’s Wallet
On March 15, it was reported that Lookonchain monitoring data showed that it was suspected that Sun Yuchen’s wallet had earned more than 3.3 million dollars during the period when the USDC broke down. The address starting with 0xbcb7 was removed from Aave after the USDC was anchored, and 50 million USDCs were exchanged 1:1 for DAI. Subsequently, the USDC was removed from Coin An and also exchanged for DAI. The address then withdrew 214.9 million USDTs from Coin An, converting 100 million of them into 103.3 million USDCs, 75 million USDTs into 75.5 million DAIs, and then converting all USDCs into DAIs. Lookonchain: It is suspected that Sun Yuchen’s wallet earned more than 3.3 million US dollars during the period of USDC’s anchor release Analysis based on this information:According to the Lookonchain monitoring data report on March 15, Sun Yuchen’s wallet is facing suspicion of earning over $3.3 million during the period when the USDC broke down. The report…
-
European Central Bank moving ahead despite the collapse of the Silicon Valley Bank
According to reports, Eurosystem sources told the International Market News Agency (MNI) that despite the collapse of the Silicon Valley Bank of the United States (SVB) and the expected decline in market interest rates, the European Central Bank still hopes to advance its plan of raising interest rates by 50 basis points in accordance with the previous guidelines, although they admit that they will need to be more cautious in determining the future interest rate path prospects. Sources: The European Central Bank insisted on a 50 basis point interest rate increase plan in the turbulent market Analysis based on this information:The European Central Bank (ECB) remains steadfast in its plans of raising interest rates despite the collapse of the Silicon Valley Bank (SVB) in the United States and the expected decline in market interest rates. According to Eurosystem sources, the ECB hopes to carry on with its plan of increasing interest rates by 50 basis points, in accordance with previous…
-
Celsius Faces Legal Battle for Alleged Mismanagement and Fraud
According to the report, the official committee of Celsius creditors proposed to sue Alex Mashinsky, the co-founder of Celsius, and other senior executives, ac…
-
**Damus Integrates ChatGPT to Enhance Its Open Social Application**
On April 3rd, Damus, an open social application based on the Nostr protocol, announced in a social media article that it has integrated ChatGPT optimized for chat, supporting multi
-
Why Does Bitcoin Fluctuate (Why Does Bitcoin Have Such High Volatility)
Why does Bitcoin fluctuate? In recent market volatility, Bitcoin\’s price trend