Transaction fees on the Ethereum (ETH) network, which has been on the rise with the meme coin craze, have fallen to the lowest level in the last two months.
The meme coin frenzy in May had brought Ethereum transaction fees to pocket-worthy levels. new users Pepe coin (PEPE) This overload during their search is over and transaction fees on the Ethereum network are gone. to the lowest level in the last two months. declined.
According to on-chain data, in May 142 gwei Transaction fees rising to the level of average at the time of writing 22 gwei watching the band. This is also the average $22 from the transaction fee 7 dollars This means a reduction in transaction fees. Lastly, transaction fees 16 April had fallen to these levels.
Transaction fees, which hit record levels in May, and the serious effects of the meme coin frenzy on Uniswap in just 7 days More than 5,000 Ethereum (ETH) was burned.
According to market analysts, such a decrease in Ethereum transaction fees, meme coin of the rush that it’s over or it’s about to end pointing out. Accordingly, PEPE’s 75% loss in value after Binance listing also reflects this thought. supportive exists.
On the other hand, looking at the on-chain data in decentralized exchangesi also this overload lower transaction fees decreased in parallel. In the early stages of the meme coin rush, access to these assets was mostly available through decentralized exchanges, but with many centralized exchanges listing these assets. both network density and transaction fees has fallen.