Ethereum Gas Fees Skyrocket 10x Amid On-Chain Panic – Here’s What You Need to Know

Ethereum Gas Fees Skyrocket 10x Amid On-Chain Panic – Here’s What You Need to Know

Source: Ethereum.org

Ethereum network fees skyrocketed tenfold to as much as 318 Gwei on November 8 with a simple transaction nearing the level of $10 at one point. This, paired with the ongoing crypto market crash, has triggered a decrease in the coin’s price to below the level of $1,200. The prices of other tokens have also dropped sharply over the past 24 hours.

As a result of the latest spike, transactions carried out via…


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