Cointime

Cointime

Download App
iOS & Android
Home / JUST IN

Ethereum Transaction Fees Hit May 2022 Highs

On May 2, the median average transaction fee on the Ethereum network soared to around 87 gwei, according to Dune Analytics. This spike was mainly attributed to the increased on-chain activity surrounding memecoin trading.

Memecoins such as Pepe the Frog-themed token have been enjoying a renaissance recently, with the token price soaring over 266 times in just four days in April. The memecoin’s market cap rose to over $500 million this week before crashing below $400 million again.

Ethereum PEPE
Comments

All Comments

Recommended for you

  • Crypto Industry Disappointed as Digital Assets Fail to Make an Appearance in First 2024 US Presidential Debate

    Despite hopes from industry participants, the topic of crypto was not discussed during the first general debate of the 2024 U.S. presidential election between Joe Biden and Donald Trump. The debate, hosted by CNN, primarily focused on the economy, with brief mentions of other issues such as abortion, immigration, and foreign policy. While crypto has been a talking point throughout the election cycle, neither candidate made any significant statements about it during the debate. The crypto industry is hoping for a Congress and administration that will pass legislation friendly to digital asset businesses, and is looking to repeat the massive spending on elections from 2022.

  • Nascent withdrew 447.67 billion PEPE from Binance 6 hours ago, accounting for the largest proportion in its investment portfolio

    Spot On Chain reported that six hours ago, Nascent withdrew 44.767 billion PEPE coins (worth $5.48 million) from Binance, currently with a profit of $262,000 (+4.8%). Currently, PEPE ranks first in the investment portfolio of the venture capital firm, followed by MKR, with a total profit of $2.45 million (+248%).

  • Cointime May 25 News Express

    1. British media: 61,000 Bitcoins in Qian Zhimin case may belong to British police and Home Office

  • Cointime's Evening Highlights for May 19th

    1.US spot Bitcoin ETFs saw net inflows of $948.3 million this week
  • Ryan Sean Adams ·

    Will this cycle skip Ethereum?

    Ryan Sean Adams is going to take the perspective of long-term Ethereum bulls, not the obviously wrong dyed in the wool Ethereum is dead haters.
    Will this cycle skip Ethereum?

  • Cointime May 3rd News Express

    1. The 133rd Ethereum ACDC meeting: The goal is to complete the devnet within 7-10 days
  • Cointime精选 ·

    The Future of Ethereum: Use Cases (Part 1)

    In our 4-part series named “The Value of Ether”, we have discussed in detail the framework in which we think it is most appropriate to link value accrual to ETH token holders with the underlying mechanics that operate the Ethereum blockchain. More specifically, we have laid out a case on how increased usage of the network has an impact on supply dynamics and can therefore have a knock-on effect on the value of the Ether token.
    The Future of Ethereum: Use Cases (Part 1)

  • Cointime April 23th News Express

    1. EigenLayer: Deposit limits for all LST tokens will be removed on April 16
  • Cointime精选 ·

    Introducing eoracle - the Ethereum Oracle

    Ethereum and Bitcoin faced challenges that were overcome with a very cautious approach, resulting in an extraordinary case study for global human coordination. Adding real-world data through oracles as another layer on top of it is a very promising next step. However, so far, we have taken this step forward without the same caution that is fundamental to the journey toward a decentralized ecosystem. Perhaps we were too close to the problem, focusing only on the outcome - making data accessible - and not being mindful enough about the process allowing it.
    Introducing eoracle - the Ethereum Oracle

  • Cointime April 5th News Express

    1.Mystiko.Network Community Sale Completed, Total $11.25 Million in XZK Sold2.Solana Co-founder Responds to the Sharp Increase in Transaction Failure Rates: Patch Coming Soon3.Ethena USDe market value exceeds 2 billion US dollars, setting a new record4.Du Jun, Executive Director and CEO of Xinhuo & Founder of ABCDE: Xinhuo Technology and ABCDE will invest 100 million US dollars to support blockchain companies that promote social development 5.QCP Capital: Bitcoin is expected to return to $70,000 this week, while Ethereum continues to be weak6.bitSmiley Labs officially launches its independent ecosystem plan, bitUniverse, and reveals its OG pass bitDisc-Black Upgraded Priviledges 7.Avalanche Foundation launches ice-breaking plan, focusing on LST track in the first phase and funding 500,000 AVAX 8.SuperRare Expands into Bitcoin Ordinals with Killer Acid's Psychedelic Art Collection 9.A dormant whale address for 8 months deposited 1,100 BTC into Binance10.Meme exchange DerpDEX.com completes multi-million dollar strategic investment, with participation from ABO Digital and others

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company