the ethereum gas fees is becoming a kind of big news these day,the Ethereum’s gas fees is confirmed to actually continue to rise just the same way its token price continues to be able to actually break all its new all-time highs....
The high cost can be said to be caused by the recent rise of the Decentralized Finance (DeFi), which is what has really been able to take the intermediaries out of all the financial transactions. Now,it is confirmed that there is actually an average fee of up to $20 for the Ethereum transactions,this can be considered to be the highest ever level which really exists for the number two cryptocurrency......
all these astronomical fees is really affecting alot of exchanges which includes binance,,,,
binance as an exchange have announced that just within one week they have spent about $10 million just for ethereum gas fees ....that is a huge amount of money though....
well right now The actual number of the transaction blocks which actually do require verification have really keep adding up as more of the users starts to really carry out these transactions.......so that led to a kind of congestion and the congestion has actually made it more expensive to really execute......
but the truth is that for The fact that Binance is actually spending so much large amounts on an Ethereum gas fees really means that the exchange is really big and really popular and can be considered to be a heavy spender in the business of cryptocurrency exchanges.....
the Ethereum complex transactions which require user fees, its beginning to kind of affect smart contract platforms........