Ethereum Experiences Increased Gas Fees amidst BTC ETF Filing and Price Surge

By: Eva Baxter

Constant changes in gas fee prices are a subject of concern for the Ethereum community lately. Notably, the Ethereum network has reported gas fees as high as $200 for specific high-priority transactions. According to data, these fees soared to levels last observed in June of last year, temporarily hitting 270 gwei. Additionally, netizens have taken to social media to present the unique characteristics of burgeoning blockchains like Solana that, instead offer much cheaper transactions. However, Ethereum's network congestion and increased gas fees haven't deterred crypto enthusiasts as recent spikes in the Ethereum price have been noticed. Observations show that Ethereum outperformed Bitcoin with an increase of over 10%, bypassing the $2,000 barrier. Predictions suggest further growth could guide Ethereum prices towards the $2,200 mark.