World's second largest crypto currency Ethereum has seen massive raise in its transcation fee over the weekend.
Daily Ethereum network fees have surpassed bitcoins transcation gap and gap is growing since then
The gap has been raising for two consecutive days June (6 - 7). This data has been confirmed by data analysis firm Glass node.
According to the firm Glass node On June 6 the total amount spent on Ethereum network was 498,000 which is $190,000 more than bitcoins network fee.
The gap has been continued to wided since than and increased to $540,000 adding more $42,000 more in One day.
This is the second time Ethereum network fee has topped Bitcoins network fee this year.
On March 12, 2020 there was a sudden spike in Ethereum network fees which totalled by $800,000 which is a massive increase of fee compared to Bitcoins network fee.
At the time Ethereum network was experiencing major congestion which lead users to pay more in transaction fees.
This event has been described as "feepenining" on Twitter and many are talking about this issue.
As fee raises Stable coin transfers value on Ethereum network has been raising and broke all the old records.
On the other hand developers are getting ready to implement Ethereum 2.0 update on the network by july.
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