Ethereum Transaction Fees Fall 82%, as Defi Hype Eases

The average cost of sending a transaction over the Ethereum blockchain has fallen by 82% from a September 2 peak of $11.61, down to $2.09 as of October 4. The decline may be the result of a slow down in the hype around decentralized finance (defi) protocols.

According to data from Glassnode, ethereum (ETH) miners have also seen a corresponding sharp drop in total earnings from fees over the past three weeks. On Sept. 17, miners raked in 42,763 ETH, or $14.97 million, in fees, but that tanked…


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