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Cryptocurrency Ecosystem => Ethereum Forum => Ethereum News & Updates => Topic started by: MRM on October 05, 2020, 08:49:12 PM

Title: Ethereum Transaction Fees Drop 85% in Under Three Weeks
Post by: MRM on October 05, 2020, 08:49:12 PM

Transaction fees, volumes, and transacted amounts have all fallen considerably in the last three weeks. The average Ethereum (ETH) transaction fee reached an all-time high (ATH) of almost $12 last month, causing a major pain point for traders and other ETH users. As a result, Ethereum miners have been racking up record fees, earning a total of $166 million from transaction fees alone in September.

But now, things have largely returned to normal. According to data from Glassnode, the total Ethereum transaction fees earned by miners have fallen from a peak of 42,763 ETH on September 17, down to 5,898 yesterday—equivalent to a decline of 86.2% in under three weeks.
Source: https://decrypt.co/43880/ethereum-transaction-fees-drop-85-in-under-three-weeks