Ethereum's Average Gas Fee Jumps More Than 80% Higher Nearing $5 per Transfer
26 days ago , Ethereum transitioned from a proof-of-work (PoW) network to a proof-of-stake (PoS) blockchain and after the change, the network’ ;s fees remained low. This week, however, Ethereum’s gas fees have increased as data from October 10 shows the average fee tapped a high of $4.75 per transaction. Ethereum’s Average Gas Fees Jump Over 80% in 3 Days Ethereum’s gas fees have ticked upwards, jumping 84% higher from $2.58 per transaction on October 8, to $4.75 per transfer on October 10. Ethereum fees have not breached $4 since August 11, 2022, or roughly 61 days ago. Statistics from bitinfocharts.com indicates that the median transfer fee on October 10 is $2.2 per transfer. Etherscan.io’s gas tracker also shows an increase as today’s high priority fee is around 27 gwei or $0.62 per transfer. On October 11, 2022, the average gas fee is around $4.25 per transfer or 0.0033 ether. The day prior, on October 10, ETH gas fees neared $5 when fees...