Ethereum Transaction Fees Fall While NFT Market Stumbles

Written By Guest User

Ethereum just got usable again. Read the full article by: Decrypt Staff

Key Points:

  • August was a huge month for NFTs and subsequently caused Ethereum to be come unusable, again, for the casual user due to high gas fees.

  • As the NFT market has started to slow down a bit ETH gas fees have also started to drop. Yesterday the average transaction cost about $29 as opposed to last week where the average was $59.

  • This can be attributed almost directly to the insane drop in NFT trading recently. On August 28th NFT sales for the day were $267 million and yesterday NFTs saw just $7 million in sales based on data from Nonfungible.com. This website keeps track of NFT sales and other trading / data metrics.

Guest User
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