Ethereum gas fees drop as daily DEX and DeFi volumes decline

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Ethereum gas fees drop as daily DEX and DeFi volumes decline

The rising popularity of decentralized finance (DeFi) has brought fresh attention and optimism to the cryptocurrency sector with the total value locked on all protocols increasing from $1 billion to $59 billion in less than a year and the top 5 platforms accounting for $24.33 billion of the total value.

Rising gas fees have been one of the most noticeable results of the increasing interaction with DeFi protocols and currently, the Ethereum (ETH) network hosts the majority of the top DeFi projects. Gas fees have been steadily rising since November 2020 and reached a peak on Feb. 23 when the average transaction cost reached 373 Gwei which is approximately $11.72 at the current Ether price. 



https://cointelegraph.com/news/ethereum-gas-fees-drop-as-daily-dex-and-defi-volumes-decline?_ga=2.256766219.1012090154.1615048030-1200779548.1615048030