{"id":27906,"date":"2020-08-30T10:54:05","date_gmt":"2020-08-30T07:54:05","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=27906"},"modified":"2025-08-26T23:51:58","modified_gmt":"2025-08-26T20:51:58","slug":"average-ethereum-transaction-fee-exceeds-6","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/average-ethereum-transaction-fee-exceeds-6\/","title":{"rendered":"Average Ethereum transaction fee exceeds $6"},"content":{"rendered":"

The average transaction fee in the network of the second-largest cryptocurrency by market capitalization has again surpassed the $6 mark.<\/p>\n

The metric last reached a similar high in mid-August. For comparison, the average transaction fee on the Bitcoin network is currently $2.85.<\/p>\n

\"Average<\/p>\n

Data: Blockchair.<\/p>\n<\/div>\n

According to EthGasStation<\/a>, to perform fast transactions (<2 min) it is recommended to set the gas price at 300 Gwei. For standard and slow transfers these figures are 250 and 162 respectively.<\/p>\n

The largest gas users are the non-custodial exchange Uniswap, the stablecoin Tether (USDT) and the project SmartWay Forsage, bearing signs of a pyramid scheme.<\/p>\n

\"Average<\/p>\n

According to Glassnode<\/a>, the number of transactions in the Ethereum network exceeds Bitcoin\u2019s by 3.6 times \u2014 1,074,630 vs 292,637 respectively (as of August 29).<\/p>\n

\"Average<\/p>\n

Such significant on-chain activity is likely largely driven by the ongoing growth of the decentralized finance sector. The value locked in DeFi protocols is approaching $9 billion.<\/p>\n

\"Average<\/p>\n

Data: DeFi Pulse<\/a>.<\/p>\n<\/div>\n

Also the decentralized exchange (DEX) segment is growing rapidly. The total trading volume on non-custodial trading venues over the last 30 days rose by 143%, and over the last day \u2014 by 27%.<\/p>\n

\"Average<\/p>\n

Daily trading volume on DEXs stands at $636 million. Data: Dune Analytics<\/a>.<\/p>\n<\/div>\n

As previously reported, Tether<\/a> activated the OMG Network sidechain to improve the performance of the USDT stablecoin network, reduce costs and ease pressure on the Ethereum network.<\/p>\n

Subscribe to ForkLog’s channel on YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

The average transaction fee in the network of the second-largest cryptocurrency by market capitalization has again surpassed the $6 mark.<\/p>\n","protected":false},"author":1,"featured_media":27907,"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":[1178,1227,1093,787,46],"class_list":["post-27906","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blockchain-fees","tag-cryptocurrency-transactions","tag-defi","tag-dex","tag-ethereum"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27906","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=27906"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27906\/revisions"}],"predecessor-version":[{"id":27908,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/27906\/revisions\/27908"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/27907"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=27906"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=27906"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=27906"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}