Gas Puts Brakes on ETH

ethereum gas fees sep 2020 1

Ethereum’s fees rose yesterday to as high as 500 gwei, which translates to $40 – $100 per simple contract interaction. Our fun ‘test-running’ sushi therefore was met with calculations of whether any potential dividends would cover fees. So the result was we left everything as it was, which presumably is good news for sushi, but maybe not such good news for yETH. We defo wanted to ‘testrun’ that because it’s a pretty cool new bot that would have been hard at work for us, yet it would have cost us $20, so we thought to just wait. That’s good in a way because price has moved against eth, and it has done so because people are waiting for fees to get a lot lower before getting in on the action. Meaning what we’re seeing now has less to do with stocks or bitcoin and more to do with ethereum miners…

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