Affected by the surge in gas fees, the average cost of NFT transactions once approached $400.
The surge in cryptocurrency market prices has led to a sharp increase in Ethereum Gas fees. In the past 24 hours, Ethereum Gas fees have exceeded 174 gwei, which means that the average cost of completing an NFT transaction on Ethereum has exceeded $372.29. This means that users must pay hundreds of dollars even to exchange personal profile pictures (PFP) for free among friends. Additionally, the cost of exchanging tokens on Ethereum is almost $220, which could offset the potential profits from converting tokens.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Scores: The Critical Signal for Market Cap Growth
The 2024 Crypto Users Report
Crypto Trading Firm QCP Capital Says Donald Trump Could Kick Off Memecoin Altcoin Season!
QCP Capital has predicted that the memecoin TRUMP associated with US President-elect Donald Trump could act as a catalyst for altcoin season.
Vitalik Buterin Responds to Ethereum (ETH) Foundation's Sell-Offs, Reveals New Solution They're Researching!
Ethereum co-founder Vitalik Buterin said that the Ethereum Foundation, which has attracted attention with its sales, is exploring ETH staking options.
Crypto prices
More
