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For Ethereum, bull market might only mean trouble

Apart from the value of the second-largest asset, another feature driving people’s attention towards it was the spike in its gas price. The amount of fees being spent on the Ethereum network has reached an all-time high. Data from Glassnode suggested that over 17,500 ETH [USD $6.8 million] were currently being spent on fees daily on the network. Whereas the median gas price reached 217 Gwei and the mean price was at 224 Gwei. Source: Glassnode However, users were spending more to effectively use the network. Etherscan recommended an average gas price of over 350 Gwei for a 20 second…

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