Ethereum Weekly Fees Surge for Second Week in a Row, Hits $42 Million
CryptoNewsTerminal Staff31 May, 2024
Ethereum Weekly Fees Surge for Second Week in a Row, Hits $42 Million
Crypto market data analytics platform IntoTheBlock tweeted that the "total weekly fees paid on the Ethereum (ETH) network has increased to approximately $42 million, marking a 42.48% increase compared to last week." The weekly fees paid on Ethereum have been on a steady decline for the past two months but have now seen a consecutive increase over the past two weeks. This increase suggests that the Ethereum network is becoming more active, as users are willing to pay higher fees to conduct transactions. The rise in fees could be attributed to several factors, including an increase in the number of decentralized applications (dApps) being used on the Ethereum network.
