Ethereum fees decline amid DeFi collapse Of Yam Finance

by in Cryptocurrency News

Ethereum

Ethereum transaction fees recently hit a new high.

However, the collapse of the Yam Finance crypto project, deployed in the DeFi ecosystem, caused the cost of operations to fall. According to the ETH Gas Station service, Ethereum commissions are now about 60% lower than they were in the middle of this week.

At the same time, many observers note that fees are still very high, as the demand for transactions continues to add.

One of the researchers, Nick Chong, tweeted that it costs $ 2.25 to send ETH.

Trending: Vitalik Buterin's $25.000 Doge Investment Brought Him $4.3 M

To transfer a token of the ERC-20 standard, you need to pay a commission of up to $ 5, and for transactions with Uniswap coins, the fee has increased to $ 10. The average commission on the blockchain is 277 Gwei.

The downward correction in commissions is likely to be short-term, and growth is about to resume, experts predict.

Interest in the DeFi decentralized finance market remains very high, which positively affects the transactional activity of service users. DeFi market capitalization recently hit a record high exceeding $ 4 billion.