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Gas Explosion: Ethereum Gas Price Went up almost 40%

The price of transaction fees on Ethereum rose again: yesterday the price of gas increased by 38.33% overnight and amounted to 218 gwei, according to YCharts. The last time a similar figure was seen on September 7, 2021, then the transaction price was 214 gwei. The price level is also high today at about 150 gwei, which in dollar terms is about $42 for an ERC-20 token transfer and about $130 for a Uniswap swap.

According to Etherscan, the biggest consumer of gas is OpenSea, whose sales volumes rose sharply in January and are aiming to break the August 2021 record. The NFT marketplace’s Ethereum contract has used 12.15B gas units in the past 24 hours.

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