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Ethereum Fees Approached $39k

Maxwell Williamson by Maxwell Williamson
January 25, 2023
in Crypto, News
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Ethereum’s high transaction fees are a major concern for many users. Finally, Ethereum (ETH) came to the fore with a gas fee of $39,000 in a single transaction. One of the Ethereum users shared on their Twitter account that a transaction fee of $ 39,050 was paid for a single transaction.

Cryptocurrency investor Jason Williams made fun of Ethereum on the social media platform Twitter. Ethereum, which came to the fore with the Merge update and increased network efficiency, is under the public eye with high gas fees.

Ethereum Founder Vitalik Buterin Promises Improvements

blockdag 70m

Also, Ethereum (ETH) founder Vitalik Buterin reiterated his commitment to improving the protocol and network structure. Buterin thinks the project will become more efficient.

Ethereum Founder Vitalik Buterin Promises Improvements

Although it remains unclear what transaction Williams is talking about, the Twitter post can be shown as proof of how much the Ethereum network needs to do to combat the gas fees. In the future, a very high amount of payment may be required for transaction fees. Prior to The Merge, one of the biggest concerns of Ethereum users was that transaction costs would skyrocket.

Some analysts, who expect the rise of the coins that introduce themselves as “Ethereum killer” in this process, think that the high gas fees in Ethereum can become a big advantage for new coins.

You may be interested: Fireblocks Acquires Crypto Insurance Company Coincover

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Maxwell Williamson

Maxwell Williamson

I am Maxwell - my friends call me Maxy, graduated from Pomona College in Economics. I have a highly quantitative and analytical background with work experience in corporate finance, valuations, and strategic advisory services. My diverse background has allowed me to gain experiences in various industries geographies and enabled me to acquire an international and comprehensive perspective. Through my experiences in work, school, extracurricular activities, and sports; I gained essential leadership and collaborative skills that helped me to grow strong interpersonal and problem-solving skills. In addition to the analytical areas such as finance and data science, I love being creative and I learned JavaScript to design my own website and some web applications in order to use my deep learning models. Currently, by sharing financial analyzes in different news channels, I guide readers on how to make conscious investment strategies.

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