Nairametrics
  • Home
  • Exclusives
    • Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Ranking & Reviews
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
  • Economy
    • Macro-Economic News
    • Get Data
  • General News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Ranking & Reviews
  • Markets
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
  • Industries
    • Company News
    • Consumer Goods
    • Content Partners
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
  • Economy
    • Macro-Economic News
    • Get Data
  • General News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Markets Cryptos

Ethereum transaction fees drop by 80%

Olumide Adesina by Olumide Adesina
August 22, 2020
in Cryptos
Ethereum, second most valuable cryptocurrency, surges more than 88% since March
Share on FacebookShare on TwitterShare on Linkedin

Lately, ETH miners have been experiencing a plunge in revenue. Data from Santiment Research revealed that Ethereum transaction fees dropped by almost 80% from their all-time high today, thereby providing an opportunity for cheaper on-chain operations.

#Ethereum transaction fees (in $USD) dropped almost 80% from their all-time high today. This brings them back to levels last seen in mid-July. This is a nice opportunity for significantly cheaper on-chain operations today. https://t.co/JQ8nCzHCyi pic.twitter.com/GMeFfXqdSv

— Santiment (@santimentfeed) August 21, 2020

What this means

Ethereum transaction fees are calculated in Gas and used in paying for ETH operations on its blockchain network. These don’t just include normal transactions, but also interactions with the decentralized application and smart contracts. Fees going down means that using Ethereum projects is becoming less expensive.

ETH miners have been cashing in averagely because ETH fees on its blockchain network have risen partly due to the rising interest on DeFi assets, which now have about $5 billion worth of digital assets in terms of value, up from less than $1 million earlier this year.

READ: Unknown ETH Whale moves $35 million dollars worth of Ethereum

Things you need to know about Ethereum

Ethereum is a cryptocurrency designed for decentralized applications and the deployment of smart contracts, which are created and operated without any fraud, interruption, control or interference from a third party.

Ethereum is a decentralized system, fully independent, and is not under anybody’s authority. It has no pivotal point, and its platform is connected to thousands of its users through their computing system around the world, which means it’s almost impossible for the crypto to go offline.

Download the Nairametrics News App

Related

Tags: cryptoCryptocurrencyCryptocurrency NewsDeFiETH feesETH minersEthereumEthereum transaction feessmart contracts

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Access Bank
Bankers Committee
Flowmono

Bfpeer
Mega Millions
FCMB
Ikeja Electrics
Zenith CEX
Kwakol Markets
First bank





    Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

    Recent News

    • International Breweries share price appreciates pushing market cap to N218.93 billion 
    • CBN issues guidelines for Open Banking in Nigeria to enhance financial services
    • FG approves N169.7 billion for reconstruction of 4 roads under tax credit scheme

    Follow us on social media:

    Recent News

    poor, performance, International Breweries, Quick Take: International Breweries' poor performance extends into Q3

    International Breweries share price appreciates pushing market cap to N218.93 billion 

    May 19, 2022
    Nigeria’s forex utilization falls 65% to $4.98 billion in Q1 2021

    CBN issues guidelines for Open Banking in Nigeria to enhance financial services

    May 19, 2022
    • ABOUT US
    • CONTACT US
    • PRODUCTS
    • ANDROID APP
    • iOS APP
    • DISCLAIMER
    • CAREERS
    • PRIVACY POLICY

    © 2022 Nairametrics

    No Result
    View All Result
    • Home
    • Exclusives
      • Analysis
      • Corporate Stories
      • Interviews
      • Investigations
      • Ranking & Reviews
    • Markets
      • Cryptos
      • Commodities
      • Equities
        • Dividends
        • Stock Market
      • Fixed Income
      • Market Views
    • Industries
      • Company News
      • Consumer Goods
      • Content Partners
      • Corporate deals
      • Corporate Press Releases
      • Energy
      • Entertainment
      • Financial Services
      • Hospitality & Travel
      • Manufacturing
    • Economy
      • Macro-Economic News
      • Get Data
    • General News
    • Financial Literacy
      • Career tips
      • Personal Finance
    • Lifestyle
      • Billionaire Watch
      • Profiles
    • Opinions
      • Blurb
      • Op-Eds

    © 2022 Nairametrics

    Social Media Auto Publish Powered By : XYZScripts.com