Gas fees on the Ethereum network hit the lowest levels since August, while NFT sales in the Ethereum NFT ecosystem hit a new record.
NFT sales in Ethereum rose 36.06% in the last 24 hours, reaching record highs. After the London letterpress, the effects of the EIP-1559 update on the Ethereum network began to come. Ethereum reaches 1 million NFT buyers.
1 Million NFT Receivers Transactions on Ethereum Network
While gas fees decreased with the EIP-1559 update on the Ethereum network last year, 1 million NFT buyers on the Ethereum network made the transaction.
According to JP Morgan, Ethereum is losing to competitors like Solana in NFT sales due to exorbitant fees.
Ethereum’s average transaction fee has dropped to $11 from early January, about 80% off, but Solana’s transaction fee is $0,00025.
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