Ethereum Transaction Fees decline as DeFi Bubble Relaxes


As decentralized finance (DeFi) slows down and the recent bubble dissipates, transaction fees and confirmation time have also begun to drop. Before now, the Bitcoin network became very congested, a development that led to an increase in confirmation times. As a result, the Bitcoin network has several unconfirmed transactions. Also, the Bitcoin hashrate has been declining. 

Recently, Bitcoin has been making headlines as it rallies towards a new high since it’s all-time high of $20,000 in 2018, Bitcoin’s price has crossed $14,000 three times in the last seven days. 

Earlier BTC reached $14,500 and is currently 7.22% up to $14,999.67 approaching $15,000. 

On the other hand, Ethereum has been dormant. The chief developer at Ethereum Afri Schoedon announced the launch of the Ethereum 2.0 Deposit Contracts. The official launched has been scheduled for the 1st of December. 

According to a Coinjournal , an update provided by the Ethereum network said:

Image Credits: Pixabay

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