July 22, 2020 Ethereum fees reach highest level in almost two years.

Fees on the smart contract platform, Ethereum, have reached levels not seen in almost two years according to data from the blockchain analytics company, Coin Metrics. Median transaction fees, denominated in US Dollars, on the network currently sit at $0.57, the highest level since August 8, 2018. Analysts from Coin Metrics have made the case that the recent increase in fees can largely be explained by heightened interest in so-called ‘yield farming’ while others have argued that stablecoin usage has also contributed significantly to the increase.