Why has it become expensive to transfer Ethereum?

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Ethereum users are now forced to pay significantly higher transaction fees due to increased network congestion. The average price of Ethereum Gas (fuel of the Ethereum blockchain. Gas calculates the amount of fees that must be paid to the network to execute a transaction) has quadrupled last month and reached 41 gwei.

The culprit behind the increasingly expensive transaction fees is MMM Global, which has a Bernie Madoff style Ponzi scheme. MMM Global offers its investors one percent daily return. In mid-April, a cryptocurrency researcher found a fake address. With this address, it reached 8.5 percent of all gas. MMM Global,

Although he has no affiliation with Paxos Standard, he appears to be the top owner of the Ethereum-based PAX stablecoin.

Due to the large number of PAX transfers, the Ether network became increasingly congested, resulting in transaction delays.

For example, in December 2017, in the heyday of the best altcoin,

CryptoKitties, the ether-based game currency, blocked the network due to its transaction share rising to 12 percent.

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