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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