Gas fees are a fundamental aspect of blockchain transactions, representing the cost paid to validators for processing and validating transactions on the network. These fees are crucial for maintaining blockchain operations and ensuring the security and efficiency of transactions.
Read MoreEthereum (ETH) has seen a dramatic drop in gas fees, reaching a multi-year low of 0.82 Gwei as of August 11. This significant decline in transaction fees highlights a period of reduced activity on the Ethereum network, coinciding with a broader downturn in the cryptocurrency’s price.
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