The Ethereum (ETH) network still experiences random days of congestion. This led to transactions requiring significantly high fees, as much as $30.
HIGH COMPETITION FOR SOME BLOCKS LED TO EXORBITANT FEES
Transaction fees for sending ETH rose to as high as $30, on separate anomalous blocks, users reported. The spike in fees was random and rare, with current fees returning below $0.10.
The latest events revealed that the Ethereum network still inherently carries an economy of competition for resources, which becomes clear during periods of high activity.
COLLECTIBLES, DEFI BOOST LOAD ON ETHEREUM
There are multiple reasons that can lead to high-fee conditions, which make it almost impossible for regular users to send coins or tokens. One of the reasons was a recent slowdown in mining, as the difficulty crept up gradually due to the mining ice age feature. While expectations are that the ice age will be delayed again, ETH production may become slower, with block delays. Read More...