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Ethereum World News
2023-05-03 16:02:45

Pricey Ethereum Gas Fees Galvanizes Activity On EVM-Chains

Pricey Ethereum Gas Fees Galvanizes Activity On EVM-Chains

Summary: Daily unique addresses on Ethereum Virtual Machine-compatible chains set a new all-time high of 6.77 million last week. Experts and on-chain say expensive gas fees pushed more users to leverage EVM-chain like BNB Chain, Polygon, Fantom, and Avalanche. The hike in gas fees coincides with the Pepe and meme coin fever spreading through the cryptocurrency market. Ethereum Virtual Machine (EVM)-compatible network saw an uptick in user activity as Ethereum maintained its infamously high gas fees. According to on-chain data

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