- Santiment highlighted an increase in Ethereum’s network fees, which reached as high as $5.72 this past Sunday.
- Despite the latest increase, network fees are still low compared to the $14 average recorded in May this year.
- At press time, ETH was up 0.53% and was trading hands at $2,060.58 as a result.
Santiment shared in an X post published earlier today that network fees for Ethereum (ETH) have risen after the altcoin was able to break above $2K. According to the post, network fees for Ethereum rose to as high as $5.72 per transaction this past Sunday. Notably, this is the highest network fee that has risen since July 4 this year.
#Ethereum's fees have unsurprisingly risen as $ETH rose back above $2K last week & network utility surged. Relatively, though, transactions are still cheap compared to $14 May average fee levels we saw. Watch how other ERC-20's are impacted, as well. https://t.co/yuzXALw53z pic.twitter.com/ndw1PYeVEF— Santiment (@santimentfeed) November 14, 2023
The latest increase is still minor when looking at how high the fees were earlier this year. Santiment revealed that Ethereum’s fees reached an average of $14 in May. Meanwhile, fu…
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