Decentralized Finance Frenzy Drives Ethereum Transaction Fees to All-Time Highs

Zack Voell and William Foxley

Updated Wed, Aug 12, 2020, 7:21 PM 1 min read

Median transaction fees, which have stayed just below historic highs of $3.03, currently sit at $3.00.
Fees hovered below $1 until mid-July when transaction fees started to soar.
Fee increases coincide with surging activity on popular decentralized financial protocols like Uniswap.
At least three similar decentralized finance applications are included on a list of protocols with the highest levels of network utilization, curated by Etherscan.
While Ethereum developers have toyed with numerous technical options to reduce fees by scaling the network’s transaction capacity, a possible fix remains months away.

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