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SuperVerse (SUPER) $ 0.915089
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Bridged USDC (Polygon PoS Bridge) (USDC.E) $ 0.997501
Gnosis (GNO) $ 158.14
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USDB (USDB) $ 0.997158
Bitcoin Gold (BTG) $ 23.03
L2 Standard Bridged WETH (Base) (WETH) $ 2,429.40
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MX (MX) $ 3.98
Dymension (DYM) $ 1.91
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IoTeX (IOTX) $ 0.039555
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CorgiAI (CORGIAI) $ 0.000809
JUST (JST) $ 0.028012
Gravity (G) $ 0.038131
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Celo (CELO) $ 0.500922
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Saga (SAGA) $ 2.37
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CoinEx (CET) $ 0.085586
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Mask Network (MASK) $ 2.25
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Metis (METIS) $ 34.19
Osaka Protocol (OSAK) $ 0.00000027
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EthereumPoW (ETHW) $ 1.87
MimbleWimbleCoin (MWC) $ 18.25
Nexus Mutual (NXM) $ 55.23
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UMA (UMA) $ 2.27
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Non-Playable Coin (NPC) $ 0.016755
Verus (VRSC) $ 1.76
Aleph Zero (AZERO) $ 0.400453
Solayer Staked SOL (SSOL) $ 146.16
JOE (JOE) $ 0.364053
Wexo (WEXO) $ 2.51
Mythos (MYTH) $ 0.179050
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0x0.ai: AI Smart Contract (0X0) $ 0.142684
Blox (CDT) $ 0.185051
Coinbase Wrapped BTC (CBBTC) $ 63,102.00
Moca Coin (MOCA) $ 0.109441
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TrueFi (TRU) $ 0.105262
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Escoin (ELG) $ 0.664682
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Nano (XNO) $ 0.918553
BitMart (BMX) $ 0.359697
WHY (WHY) $ 0.00000029
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Xai (XAI) $ 0.206526
Velo (VELO) $ 0.016106
Venus (XVS) $ 7.29
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Merlin Chain (MERL) $ 0.324906
OKT Chain (OKT) $ 6.61
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Kinesis Silver (KAG) $ 31.32
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IX Swap (IXS) $ 0.641935
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Ecoin (ECOIN) $ 0.000248
Balancer (BAL) $ 1.91
iExec RLC (RLC) $ 1.57
Neiro on ETH (NEIRO) $ 0.112650
Cartesi (CTSI) $ 0.135164
WAX (WAXP) $ 0.032216
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VVS Finance (VVS) $ 0.000002
Ontology Gas (ONG) $ 0.286193
Pixels (PIXEL) $ 0.144029
Neutron (NTRN) $ 0.398017
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Helium Mobile (MOBILE) $ 0.001127
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Telos (TLOS) $ 0.258415
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Marlin (POND) $ 0.013362
Coq Inu (COQ) $ 0.000002
Universal ETH (UNIETH) $ 2,608.71
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Waves (WAVES) $ 1.07
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Paycoin (PCI) $ 0.104320
StakeWise Staked ETH (OSETH) $ 2,509.52
Powerledger (POWR) $ 0.201856
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LCX (LCX) $ 0.135829
Coin98 (C98) $ 0.127080
Pax Dollar (USDP) $ 0.998591
ANDY ETH (ANDY) $ 0.000103
Across Protocol (ACX) $ 0.249739
TerraClassicUSD (USTC) $ 0.017764
Synapse (SYN) $ 0.472271
inSure DeFi (SURE) $ 0.003878
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IOST (IOST) $ 0.005074
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Overnight.fi USD+ (USD+) $ 0.995310
Fwog (FWOG) $ 0.077656

ETH Gas Fees Hit Monthly Low as Market Cools Down

By Aleksandr On Jun 6, 2021

Ethereum gas fees have dropped to a new monthly low on Sunday. This comes off the back of a large price correction seen in May.

ETH gas fees dropped to ten gwei on Sunday. The latest drop in gas fees now sees ethereum transactions as being more viable once again.

The decline in gas fees comes after a tumultuous month in the markets. Ethereum saw a 60% decline in price during May. However the cryptocurrency has since recovered by 54% in June.

Source: Tradingview

ETH all-time high hurts gas fees

Ethereum had previously reached a new all-time high of $4,300 in May. The climb in price occurred during the non-fungible tokens (NFT) surge. While decentralized finance (DeFi) applications also saw upticks in volume. The demand pushed gas fees to 200 gwei for slow transactions, with rapid transactions clearing at nearly 500 gwei.

However the decline in price, coupled with bitcoins recent price correction has seen the market cool off dramatically.

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On Sunday, ethereum transactions could be sent with as little as ten gwei, or $0.57 according to Etherscan. Transactions at one point dropped to five gwei.

The current cost of an ethereum transaction is a new monthly low.

Source: Etherscan

ETH upgrades expected to scale transaction fees

Ethereum has currently been battling to scale in terms of transaction fees. However, plans are still in motion to launch ETH 2.0. The project recently completed the Berlin upgrade. With Ethereum Improvement Proposals (EIPs) included to assist in improving gas prices.

ETH killers still a long way off

Ethereum competitors currently have been unable to match the ethereum blockchain in terms of popularity. Market analysis and risk rating firm Weiss Crypto has previously reported that it was “highly skeptical” about Layer1 networks catching up to ethereum.

Aleksandr 1790 posts 0 comments

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