Skyrocketing Ethereum Gas Fee! Uniswap ETH/USDC Records 450 Million Magnesium Transactions in a Single Day
After news broke that BlackRock is preparing to apply for an Ether spot ETF, the price of Ether (ETH) surged, and Ethereum blockchain transactions also increased. Looking at the most active Ethereum protocol, Uniswap, the highest daily trading volume is in the ETH/USDC pair.
Ethereum Gas Fees Soar
Uniswap remains the most active protocol despite the high Ethereum Gas Fees. To exchange Ethereum for tokens, it costs $91, selling NFTs costs $154, cross-chain transactions cost $29, and lending activities cost $77.
Increased Ethereum Trading Activity Leads to Rising Costs
Uniswap consumes the highest amount of Gas Fees on the Ethereum network. In the past 24 hours, it consumed 566 ETH, accounting for 13% of the total.
Uniswap: The Most Active Ethereum Protocol
Within Uniswap’s liquidity pool, the ETH/USDC trading pair is the hottest. It recorded $450 million in trading volume within 24 hours (Binance’s ETH/USDT trading volume is $1.3 billion), and $1.7 billion within seven days, indicating the highest proportion of daily trading volume.
Significant Increase in USDC/ETH Trading Volume on Uniswap
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