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Fees on Ethereum hit lows due to DeFi


According to data from BitInfoCharts, on Saturday the average transaction fee on Ethereum hit the lowest level since the DeFi crypto fever broke out.

DeFi paused?

On Saturday the average price per transaction on Ethereum reached $ 0.905. The Ethereum crypto community has not seen this average price since July 19.

Yesterday the average price per transaction rose slightly to USD 1,029. The decrease has been remarkable, especially when we note that, a little over a month ago, the cost per transaction was USD 14.58.

The decline in fees reflects a respite we see in network activity and therefore could indicate a depletion of enthusiasm around decentralized finance (DeFi).

Just yesterday, Scott Melker noted on Twitter that “gas is cheap once again, the DeFi fever has clearly entered a hiatus«.

Will DeFi let fees on Ethereum return to normal? Or, will the sleeping giant wake up again?

Mistake costs $ 1.1 million in AAVE

Yesterday the crypto community discovered an erroneous transaction of 28,050 tokens from the DeFi AAVE project that resulted in an irreversible loss due to the wrong recipient address.

Basically the crypto user sent 28,050 AAVEs to the AAVE token smart contract address. This means that more than a million dollars were permanently locked on the Blockchain.

Crypto whales accumulate a lot of Bitcoin in 7 days

As we reported today in CryptoTrend, crypto whales are very active and have accumulated a total of 46,103 BTC mobilized from exchanges to unknown wallets.

The foregoing shows that the trend of last week was one of accumulation, we have even observed this trend since the beginning of October.

Anthony Pompliano bets on crypto, specifically Bitcoin

Today Anthony Pompliano revealed that he has 80% of his assets in the leading crypto. As if that wasn’t enough, he also assured his confidence that Bitcoin will hit $ 225,000 by 2021.

Without a doubt, Pompliano is a faithful believer in the potential of Bitcoin, will his prediction come true?

In a few lines …

  • Report found that Bitcoin crypto miners’ earnings fell to a three-month low.
  • Room 77, a bar located in Kreuzberg, Berlin, that was the first to accept Bitcoin has had to permanently close its doors.
  • Bitcoin received a major boost earlier today and approached the key level of $ 12K.
  • Filecoin denies roundly an alleged mining crisis that arose after the launch of the token.

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