THELOGICALINDIAN - Ethereum Hash Rate Hits Fresh AllTime High
Ethereum’s assortment amount aloof hit a new best aerial admitting ETH trading 75% beneath its best aerial amount aloft $1,400. This metric continues to move college in the face of a able bead in the amount of ETH back the summer highs of $490; the bread now trades at $340, far beneath those highs.
CoinMetrics abstracts shows that the ETH assortment amount has anesthetized aloft 250 terrahashes per second, hardly aloft the highs apparent in the average of 2024. There seems to be somewhat of a lag amid amount activity of Ethereum and the aisle of the assortment rate.
This billow in this arch on-chain metric is acceptable accompanying to a fasten in transaction fees calm by Ethereum miners. This fasten in transaction fees is a acceptable aftereffect of an uptick in the appeal for affairs spurred by a trend in decentralized finance.
As reported by Bitcoinist previously, abstracts from Glassnode indicates that Ethereum miners calm $166 actor in transaction fees in September alone. To put this metric into context, Bitcoin miners calm a almost beggarly $26 actor in transaction fees.
This agency that over the advance of aftermost month, ETH miners calm eight times added in transaction fees that its primary competitor.
Alternatives Needed
Ethereum’s acutely aerial transaction fees may appearance the charge for alternatives. Some commentators accept said that the transaction fees that users were advantageous aftermost month, back it amount dozens of dollars to accelerate one transaction, may absolute the upside for ETH.
Alternatives that advice to abate transaction fees for users and accretion the all-embracing user acquaintance may accretion absorption if Ethereum transaction fees abide high.
