Ethereum transaction fees surge even as active accounts fall to year-to-date lows
At the beginning of September, the average transaction fee on Ethereum ETH -0.96% had fallen below $1 USD for the first time since July, 2020, long before Ethereum's proof-of-stake Merge, blob upgrades, or even the launch of the Bored Ape Yacht Club NFT collection.
However, in the past few weeks the seven-day moving average transaction fee on Ethereum has spiked. Its latest value, on September 2021, was $3.52, more than triple its value of $0.85 on Sep. 1, according to data from The Block.
