Ethereum fees renewed high amid DeFi rise

CONTENT

  • The price of transactions on the Ethereum network is growing faster than Bitcoin fees

  • The previous maximum transaction prices on the Ethereum network were recorded in 2016

  • Ethereum commissions realized growth not without the participation of suspicious projects

International consortium of news organizations developing transparency standards.

Ethereum network fees have updated their absolute maximum. On the night from Wednesday to Thursday, the average value of operations reached 0.018852 ETH ($ 7.38, at current exchange rates).

The previous local maximum was recorded in December 2016.

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A graph of the average fees in the Ethereum network. Data: Blockchair

At the same time, Ethereum fees are growing faster in comparison with Bitcoin. Changes in the cost of operations in cryptocurrency networks on one chart are as follows:

Data: Blockchair

See also: Transactions on the bitcoin network in a month have risen by 550%

Recall that recently, members of the crypto community drew attention to the fact that the activity of the Ethereum network approached the level of 2017. Among the reasons, according to experts, is the surge in activity in the DeFi marketDecentralized finance (DeFi) is financial services built on the basis of blockchain technology that offer users access to an open, efficient and … More. It is noteworthy that among the projects that contributed to the rise in prices for operations with cryptocurrency, there are suspicious ones. For example, Forsage is among the top 5 startups in terms of gas consumption in the Ethereum network. The project team promises millions to its investors. At the same time, the startup itself resembles the classic Ponzi scheme (pyramid).

Top 5 projects for gas consumption in the Ethereum network

In early summer 2020, Forsage was criticized by the Philippine authorities. Regulators have warned potential investors about the risks of investing in a startup. Despite this, Forsage continued to develop. One of the Ethereum developers, Vitalik Buterin, expressed his point of view about the leader in gas consumption in the ETH network. Under another post by Forsage, in which the platform team criticizes the statements of the Philippine regulators, he presented his vision of the situation..

“The claims of the Philippine regulators to the project are related to the fact that you are lying. The vast majority of investors in your project will lose their money. The essence of such schemes is the need to constantly attract new users, whose money acts as a resource for paying dividends to their predecessors. On the day when the flow of newcomers is stopped, most of the startup’s investors will lose money, ”wrote Vitalik Buterin, noting that the principle of Forsage is similar to such fraudulent projects as Bitconnect and Onecoin..

Ethereum fees renewed high amid DeFi rise

他们 对抗 你们 因为 你们 是 骗人 的。 这种 的 的 大部分 的 用户 并 不会 赚钱 , 反而 会 亏 很多 钱。 种 项目 依赖 于 每天 有 越来越 多人 进来 给 以前 的 参与者 付钱 , 新的 参与者 没有 了 的 时候 , 大部分 的 用户 失去 他们 投 的 一切 , 看看 bitconnect, onecoin 等等

请求 你们 离开 , 以后 不要 污染 以太 坊 生态 , 感谢!

– vitalik.eth (@VitalikButerin) August 10, 2020

It is noteworthy that earlier the Ethereum developers themselves were accused of organizing a crypto pyramid. The famous cryptographer Adam Back, who is widely considered the creator of bitcoin, considers Vitalik Buterin’s project a scam. In his opinion, Ethereum is no different from the Ponzi schemes Bitconnect and OneCoin.

See also: Top “live” and “dead” cryptocurrency scams

Against the background of the growth in the cost of transactions in the Ethereum network, the coin cannot close above the $ 400 level.

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Ethereum fees renewed high amid DeFi rise
Ethereum fees renewed high amid DeFi rise
Ethereum fees renewed high amid DeFi rise

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