The new ERC-404 tokens have swiftly taken the spotlight, dominating the cryptocurrency market and consistently attracting interest from investors and traders. This surge in euphoria has led to a substantial increase in Ethereum gas fees, pushing costs to their highest levels in the past eight months.
Ethereum Gas Fees Skyrocket
Ethereum gas fees have surged to record highs, reaching unseen levels since March 2023, when the average gas price peaked at 101.26 Gwei. The sudden spike in Ethereum gas prices has been attributed to the recent hype surrounding ERC-404 tokens, an experimental token standard that enables native fractionalization of Non-fungible Tokens (NFTs).
Presently, reports from Etherscan, an Ethereum block explorer and analytics platform, reveal that on Friday, February 9, 2024, Ethereum gas fees reached an average gas price of 71.4 Gwei, with a maximum and minimum gas price of 59,956 Gwei and 34.4 Gwei respectively.
This price is the highest Ethereum gas fees have reached since its explosive peak in May 2023, when the average gas price surged to 155.8 Gwei.
The popularity of the ERC-404 can be attributed to the Pandora team heralding the unofficial token and taking advantage of its high liquidity. Additionally, various cryptocurrency traders have shown immense interest in the new token, aiming to capitalize on its potential and maximize its liquidity.
One trader recently made $59,000 from the popular ERC-404 token. He revealed that his “secret to making money” was buying and selling the ERC 404 token, MINER, using the high gas fees as an advantage.
The co-founder of Gaslite GG, identified as ‘Pop Punk’ on X (formerly Twitter), has also predicted that introducing ERC-404 tokens will lead to a continuous daily rise in the average Ethereum gas price.
About The ERC-404 Token Standard
Earlier Thursday, the market capitalization of ERC-404 tokens soared to $296 million, announcing their arrival in the crypto market. The token standard was launched on February 5 and has gained immense traction in crypto.
Although ERC-404 tokens remain unofficial due to the absence of a complete audit and endorsement by Ethereum developers, they have witnessed a significant surge in the days following their launch. One of the prominent ERC-404 tokens, Pandora, recently saw a rise of over 400%.
The experimental tokens have gained widespread popularity due to their unique approach of bridging the gap between fungible and non-fungible tokens for better liquidity and fractionalization.
Chart from Tradingview
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
The new ERC-404 tokens have swiftly taken the spotlight, dominating the cryptocurrency market and consistently attracting interest from investors and traders. This surge in euphoria has led to a substantial increase in Ethereum gas fees, pushing costs to their highest levels in the past eight months.
Ethereum Gas Fees Skyrocket
Ethereum gas fees have surged to record highs, reaching unseen levels since March 2023, when the average gas price peaked at 101.26 Gwei. The sudden spike in Ethereum gas prices has been attributed to the recent hype surrounding ERC-404 tokens, an experimental token standard that enables native fractionalization of Non-fungible Tokens (NFTs).
Presently, reports from Etherscan, an Ethereum block explorer and analytics platform, reveal that on Friday, February 9, 2024, Ethereum gas fees reached an average gas price of 71.4 Gwei, with a maximum and minimum gas price of 59,956 Gwei and 34.4 Gwei respectively.
This price is the highest Ethereum gas fees have reached since its explosive peak in May 2023, when the average gas price surged to 155.8 Gwei.
The popularity of the ERC-404 can be attributed to the Pandora team heralding the unofficial token and taking advantage of its high liquidity. Additionally, various cryptocurrency traders have shown immense interest in the new token, aiming to capitalize on its potential and maximize its liquidity.
One trader recently made $59,000 from the popular ERC-404 token. He revealed that his “secret to making money” was buying and selling the ERC 404 token, MINER, using the high gas fees as an advantage.
The co-founder of Gaslite GG, identified as ‘Pop Punk’ on X (formerly Twitter), has also predicted that introducing ERC-404 tokens will lead to a continuous daily rise in the average Ethereum gas price.
About The ERC-404 Token Standard
Earlier Thursday, the market capitalization of ERC-404 tokens soared to $296 million, announcing their arrival in the crypto market. The token standard was launched on February 5 and has gained immense traction in crypto.
Although ERC-404 tokens remain unofficial due to the absence of a complete audit and endorsement by Ethereum developers, they have witnessed a significant surge in the days following their launch. One of the prominent ERC-404 tokens, Pandora, recently saw a rise of over 400%.
The experimental tokens have gained widespread popularity due to their unique approach of bridging the gap between fungible and non-fungible tokens for better liquidity and fractionalization.
Chart from Tradingview
Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
can i order cheap clomid without insurance can i buy generic clomid tablets can i purchase cheap clomid online where can i buy cheap clomiphene price where to buy generic clomiphene how can i get cheap clomiphene no prescription how to buy generic clomiphene tablets
I couldn’t turn down commenting. Well written!
The sagacity in this serving is exceptional.
cheap azithromycin 500mg – buy tindamax without a prescription order flagyl 400mg generic
buy rybelsus 14mg without prescription – cheap rybelsus 14mg brand periactin 4mg
buy motilium 10mg for sale – buy tetracycline 500mg generic buy cheap generic flexeril
amoxil over the counter – how to buy diovan combivent 100mcg tablet
amoxiclav online order – atbioinfo order ampicillin pill
esomeprazole online buy – nexiumtous buy esomeprazole no prescription
order warfarin pill – cou mamide buy hyzaar cheap
mobic online buy – https://moboxsin.com/ meloxicam 7.5mg cheap
buy deltasone 40mg pills – https://apreplson.com/ prednisone 40mg cost
buy erectile dysfunction meds – site ed pills otc
amoxicillin for sale online – https://combamoxi.com/ amoxicillin online buy
order fluconazole 100mg online cheap – https://gpdifluca.com/ oral fluconazole 200mg
order cenforce 100mg pill – how to buy cenforce generic cenforce 100mg
п»їwhat can i take to enhance cialis – ciltad generic what happens when you mix cialis with grapefruit?
generic cialis tadalafil 20mg india – buying generic cialis online safe buy tadalafil reddit
zantac 150mg generic – https://aranitidine.com/# purchase ranitidine generic
buy viagra uk boots – this viagra sale england
This is the stripe of topic I enjoy reading. https://buyfastonl.com/azithromycin.html
This website exceedingly has all of the tidings and facts I needed about this case and didn’t identify who to ask. https://ursxdol.com/get-cialis-professional/
This website exceedingly has all of the low-down and facts I needed there this thesis and didn’t comprehend who to ask. https://prohnrg.com/
More posts like this would create the online time more useful. levitra posologie