Ethereum (ETH), the second cryptocurrency. It is often criticized for its high transaction fees (GAS). On average, transaction fees have dropped for six consecutive weeks.
According to data published by the Ethereum (ETH) gas price-tracking system, the average total Ether and ERC-20 transaction fees were found. decreased since the end of October
The most recent record high was on October 28, 2021 at over 190 Gwei. As a result, the average transaction value has dropped by more than 50% since the last peak.
Generally, changes in Ethereum (ETH) fees are related to the activity of Ethereum and ERC-20 token holders, with the more activity, the higher the Gas cost.
Thus, the unusual negative dynamics of average Ethereum (ETH) fees may be due to Ether’s low performance, which makes it less attractive to traders. and causing a general stagnation of the crypto market.
The L2 platform is losing TVL.
The collapse of the Locked Total Value (TVL) on Layer 2 platforms in the medium term is another interesting process that dominates the Ethereum (ETH) cluster.
According to data from L2Beat, which tracks the leading Layer 2, the protocol’s total TVL increased 10 times in the three months between late August and late November.
But then in just two weeks This volume fell from $7.1 billion to $5.5 billion, with Arbitrum Network, Boba Network, dYdX and Loopring accounting for half of this volume.
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