Ethereum Network Gas Fees Rises Amid Geopolitical Conflict

The ongoing conflict between Ukraine and Russia has activated payments on the Ethereum blockchain. As of February 26, the figure rose to 1300 gwei. It happened early Saturday morning and then the price went back to 100 gwei.

In many ways, the reason is the activation of purchases of special NFTs from RELI3F, the proceeds of which were planned to be spent on humanitarian aid. From the collection hosted on OpenSea, 370 ETH worth of virtual goods were sold. However, buyers were disappointed by high gas prices.

 

 

The use of NFTs for charity and fundraising is unexpected. However, this is not the first such experience for cryptocurrencies.

For example, in February, AssangeDAO was created by several crypto investors. The organization has raised over $45 million to free Julian Assange. He is the founder of the popular information platform Wikileaks.

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CoinShark is not responsible for the content, accuracy, quality, advertising, products or any other content posted on the site. This article is for informational purposes, prepared on the basis of materials and information from open sources. Cryptocurrency is a high-risk asset, investments in it can lead to losses. Readers should do their own research before taking any action.

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