Loopring Surges 40%, Solana Replaces Cardano as 5th-Largest Coin as Ethereum Fee

[Tanimariya]

The average transaction fee on Ethereum has risen a staggering 2,300% since late June. Rising costs on Ethereum, the world’s largest smart-contract blockchain, appear to be driving investors to coins associated with layer 2 products facilitating faster and cheaper transactions and rival programmable blockchains.

The average fee on Ethereum, known as gas, has risen by a staggering 2,300% since late June. It has more than doubled to $56 in the past two weeks alone, according to data provided by the blockchain analytics firm Glassnode, and the seven-day moving average of the mean transaction fee has hit a record high of $52. Source Link