{"id":26868,"date":"2020-08-05T10:51:50","date_gmt":"2020-08-05T07:51:50","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=26868"},"modified":"2025-08-26T17:11:58","modified_gmt":"2025-08-26T14:11:58","slug":"ethereum-fees-exceed-summer-2018-levels","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ethereum-fees-exceed-summer-2018-levels\/","title":{"rendered":"Ethereum fees exceed summer 2018 levels"},"content":{"rendered":"<p>The average daily volume of Ethereum transaction fees over the week surpassed the July 2018 figure. Median values were higher only in January 2018, at the peak of the asset&#8217;s price rally. This is according to Arcane Research&#8217;s <a href=\\\"https:\/\/static1.squarespace.com\/static\/5df0fdb6a73a4b1d59c74702\/t\/5f297fcf0ecda84184cf7f96\/1596555222311\/Weekly+update+Russian+-+Arcane+Research+%28Week+31%29.pdf\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">weekly report<\/a>.<\/p>\n<p><!--more--><\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"und\\\"><a href=\\\"https:\/\/t.co\/RqEBtxtKZO\\\">https:\/\/t.co\/RqEBtxtKZO<\/a><\/p>\n<p>\u2014 Arcane Research (@ArcaneResearch) <a href=\\\"https:\/\/twitter.com\/ArcaneResearch\/status\/1290674417446551552?ref_src=twsrc%5Etfw\\\">August 4, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>On August 3, the volume of fees stood at $2 million, and the median fee was $0.82. Arcane Research attributes this to the ongoing growth of the DeFi sector. In the past week alone, total value locked in DeFi protocols rose by 19.5% to $4.3 billion.<\/p>\n<div id=\\\"attachment_106543\\\" style=\\\"width: 1034px\\\" class=\\\"wp-caption aligncenter\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" aria-describedby=\\\"caption-attachment-106543\\\" class=\\\"wp-image-106543 size-large\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2020-08-05-v-10.47.40-1024x657.png\\\" alt=\\\"Ethereum fees exceed summer 2018 levels\\\" width=\\\"1024\\\" height=\\\"657\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2020-08-05-v-10.47.40-1024x657.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2020-08-05-v-10.47.40-300x192.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2020-08-05-v-10.47.40-768x493.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2020-08-05-v-10.47.40.png 1534w\\\" sizes=\\\"auto, (max-width: 1024px) 100vw, 1024px\\\" \/><\/p>\n<p id=\\\"caption-attachment-106543\\\" class=\\\"wp-caption-text\\\">Arcane Research data<\/p>\n<\/div>\n<p>Read more about DeFi here. All the key DeFi news is gathered here.<\/p>\n<p>Commentator Mitchell Moos suggested that the rise in <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-network-fees-jump-752-in-a-month-ethereum-fees-rise-280\">fees<\/a> and <a href=\"https:\/\/u1f987.com\/en\/news\/ethereum-gas-limit-climbs-to-12-5-million-gwei\">gas prices<\/a> is more closely linked to the Forsage Ponzi scheme. Below is the transaction activity on the <a href=\\\"https:\/\/etherscan.io\/txs?a=0x5acc84a3e955Bdd76467d3348077d003f00fFB97\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">Forsage smart contract<\/a> in comparison with DeFi projects.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">The increase in transactions to the Forsage smart contract are closely correlated to rising gas prices. <a href=\\\"https:\/\/t.co\/uz077n6MMp\\\">pic.twitter.com\/uz077n6MMp<\/a><\/p>\n<p>\u2014 Mitchell Moos \ud83e\udd8c (@mitchellmoos) <a href=\\\"https:\/\/twitter.com\/mitchellmoos\/status\/1289323452994732033?ref_src=twsrc%5Etfw\\\">July 31, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>In early July, the Philippine Securities and Exchange Commission warned about the risks associated with Forsage. The regulator saw signs of a pyramid scheme in the project.<\/p>\n<p>In May, the Ethereum network was congested due to activity on the MMM BSC project&#8217;s smart contracts, which also showed signs of a pyramid scheme.<\/p>\n<p>Arcane Research noted that the adoption of SegWit and batching in the Bitcoin network has significantly improved the protocol&#8217;s scalability. Despite the <a href=\"https:\/\/u1f987.com\/en\/news\/active-bitcoin-addresses-hit-a-two-year-high\">growth in active addresses<\/a>, median fees remain well below the levels seen at the end of 2017.<\/p>\n<div id=\\\"attachment_106542\\\" style=\\\"width: 1034px\\\" class=\\\"wp-caption aligncenter\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" aria-describedby=\\\"caption-attachment-106542\\\" class=\\\"wp-image-106542 size-large\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2020-08-05-v-10.44.35-1024x699.png\\\" alt=\\\"Ethereum fees exceed summer 2018 levels\\\" width=\\\"1024\\\" height=\\\"699\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2020-08-05-v-10.44.35-1024x699.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2020-08-05-v-10.44.35-300x205.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2020-08-05-v-10.44.35-768x524.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/Snimok-ekrana-2020-08-05-v-10.44.35.png 1468w\\\" sizes=\\\"auto, (max-width: 1024px) 100vw, 1024px\\\" \/><\/p>\n<p id=\\\"caption-attachment-106542\\\" class=\\\"wp-caption-text\\\">Arcane Research data<\/p>\n<\/div>\n<p>On August 1, the Bitcoin community <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-independence-day-community-marks-the-third-anniversary-of-uasf-activation\">marked<\/a> Independence Day. In 2017, a user-activated soft fork occurred on that day, enabling SegWit in the Bitcoin network.<\/p>\n<p>Read more about SegWit here and here.<\/p>\n<p>Subscribe to ForkLog&#8217;s Telegram news: ForkLog Feed \u2014 the full news feed, ForkLog \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The average daily volume of Ethereum transaction fees over the week surpassed the July 2018 figure. Median values were higher only in January 2018, at the peak of the asset&#8217;s price rally. This is according to Arcane Research&#8217;s weekly report.<\/p>\n","protected":false},"author":1,"featured_media":26869,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1178,46],"class_list":["post-26868","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blockchain-fees","tag-ethereum"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/26868","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=26868"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/26868\/revisions"}],"predecessor-version":[{"id":26870,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/26868\/revisions\/26870"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/26869"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=26868"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=26868"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=26868"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}