Decentralized finance (DeFi) activity on Ethereum is picking up momentum based mainly on how gas fees have been trending in the first three weeks of November, data from Kaiko shows. Even so, despite Uniswap (UNI) spearheading the revival, looking at the gas attributed to its activities over this period, UNI prices remain stagnant below $5.6, with bulls failing to edge higher, breaking to new 2023 highs. Ethereum Gas Fees Rising, DeFi Revival? According to Kaiko, a blockchain analytics platform, the average gas fees on Ethereum hit multi-month highs last week. The platform expressly notes that the primary driver has been Uniswap’s activities, reading from the rising transaction volumes from meme coins, including GROK. This, in turn, pushed block space demand higher, increasing gas fees. Related Reading: Global Banks Are Betting Big On XRP, Report Shows Gas fees remain volatile but generally higher in the first three weeks of November. As of November 20, Ycharts data shows that the average cost of sending a transaction stood at 45.13 Gwei, nearly 100% from November 19, when it was at 24.84 Gwei. This is a sig ..
Support the originator by clicking the read the rest link below.
 Stuck?){kind=link}