Ethereum blockchain commission has increased

The popularity of DeFi and the rise in ETH prices have led to an increase in transaction costs. Ethereum blockchain fees hit $10.20 per transaction on Sunday

Earlier, for the whole last year, commissions were raised only twice. For example, in early September, transaction fees were $12.54. Then the commission fell to climb to $11.69 by the middle of the same month.

In many ways, the resounding success of DeFi lending and other decentralized financial services has driven the rise in transaction fees. Alas, high fees are too expensive for many DeFi users.

Recall that this has already happened against the background of the frenzied popularity of the CryptoKitties game. Since then, they started talking seriously about the need for change.

Thanks to the launch of Ethereum 2.0 and the transition to a new type of mining (staking), cryptocurrency will be able to ease the financial burden on users. Although it takes time to fully deploy Project 2.0, the positive attitude can be seen right now.

ETH is slowly approaching its largest all-time high of $1207 (according to CoinMarketCap). The coin is currently trading at $1,050.