THELOGICALINDIAN - The ENS airdrops accept been one of the best advancing airdrops on the Ethereum arrangement Owners of ETH area registered afore October 31st was able to affirmation the tokens Social media was abuzz with allocution of the airdrop and the admired tokens The website area claims could be fabricated went up on November 8th and users accept been claiming their tokens back then
The ENS airdrop has been a amazing success so far. ENS badge amount acicular to a new best aerial on Wednesday, authoritative abundant profits for its holders. However, the success of the airdrop has afflicted gas fees on the network.
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ETH Transaction Fees Spike
Gas prices afterward the fasten of ENS to a new best aerial went as aerial as $56.97 for an average transaction fee and $29.01 for a boilerplate transaction. This is the second-highest that gas fees accept anytime been, with the accomplished recorded boilerplate of $70 recorded in May during the aiguille of the balderdash run. The success of ENS has alone done added to drive up gas prices on the network.
High fees on the Ethereum arrangement accept consistently been a account for affair in the space. Although gas prices alter depending on the blazon of transaction actuality agitated out, the fees are still aerial abundant that they sometimes beat the amount of the assets actuality transacted.
It costs decidedly added to backpack out activities like minting NFTs, but the acceptance of the belvedere and aerial arrangement acceptance has fabricated it so that alike approved ERC-20 badge affairs can boilerplate as aerial as $45 per transaction.
One upside of the added gas fees has been the bulk of ETH actuality taken out of circulation. Almost $4 billion account of ETH tokens has been austere back EIP-1559 launched, accretion 844,000 ETH burned.
Open Interest In Ethereum Hit Record High
Interest in Ethereum has not died bottomward akin in the slightest. Individual and institutional investors akin abide to see the agenda asset as a applicable advance advantage and appropriately accept connected to bandy their hat in the arena with ETH. This has led to Ethereum Open Interest spiking to almanac levels in November.
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Data shows that the absolute aggregated accessible absorption for ETH futures had hit a new best aerial of $12.6 billion on Wednesday, assault its antecedent aerial of $11.1 billion. This indicates that absorption in the agenda asset is at an best high.
Ethereum has additionally not aghast its supporters. In alone the aboriginal bisected of November, the asset has hit assorted best highs. Now, beasts attending to booty the amount of ETH to the coveted $5,000 afore the end of the year. With absorption so high, the asset may actual able-bodied exhausted this amount afore November ends.
