Ethereum Transaction Volume and Gas Fees Reach Multi-Month High
The transaction volume on the Ethereum blockchain has been steadily increasing since the beginning of February, reaching a seven-day moving average of over $3.55 billion. This represents a 15% increase from the start of the month. The surge in transaction volume has also led to a spike in network gas fees, with the seven-day moving average hitting a multi-month high of over $11. This is the highest level seen since mid-December 2023.
NFT Trading Volume on Ethereum Reaches Highest Level Since February Last Year
In addition to the increase in transaction volume, the volume of NFTs traded on Ethereum has also reached its highest level since late February last year. The weekly trading volume for Ethereum NFTs hit a multi-month high of $147.29 million, marking a significant increase.
Ether Price Declines by 1.9%
Despite the positive trends in transaction and NFT trading volume, the price of ether has experienced a slight decline of 1.9%, falling to $2,476.
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