Ethereum Eyes $2,817 as Transaction Fees Soar

Ethereum Transaction Fees Surge Amid Rising Activity

Ethereum, the world's second-largest cryptocurrency, is grabbing headlines with a significant increase in transaction fees. Transaction fees— the cost to process transactions on the Ethereum network — have skyrocketed by 498% over the past ten days. This surge is largely due to increased on-chain activity, which refers to the use of Ethereum's blockchain for transactions and smart contracts. According to Coinbase, the fees have hit a seven-week high, a clear indicator of heightened network usage.