Latest News

As gas fees fall, Ethereum exceeds 1 million NFT purchasers

On Sunday, the total number of unique non-fungible token (NFT) buyers on the Ethereum blockchain surpassed 1 million, as the network’s gas fees fell to their lowest level since August.

In the last 24 hours, NFT sales on Ethereum surged by 36.06 percent, higher than any other blockchain with at least US$100,000 in sales.

According to JP Morgan, Ethereum is losing market share in NFT sales to rivals like Solana due to expensive fees.

Ethereum’s average transaction price has dropped to US$11, a nearly 80% reduction from early January. But, still exorbitant when compared to Solana’s average fees of US$0.00025.

As the blockchain transitioned from an auction-based gas mechanism to a base fee scheme. That’s, the London hard fork in August was expected to cut transaction fees.
Related Posts – Ferrari joins the NFT universe through a collaboration with a Swiss…

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.