The Glassnode data provider reported a large increase in fees and gas prices due to $ 1 million spent in ETH miner fees within an hour due to Uniswap’s UNI airdrop.
Glassnode analytics data collector announced that after Uniswap announced the massive free UNI distribution earlier today, Ethereum miner rewards have increased and $ 1 million was spent in miner fees in just one hour.
Ethereum miner fees are rising due to Uniswap’s generosity today. Earlier today, Ethereum-backed dex Uniswap reported that the UNI governance token has been launched and users can each receive 400 UNIs. It was stated that what is necessary for this is to be registered on the platform and to have made a transaction before 1 September. At that time, the UNI was changing hands at $ 3.66, meaning the 400 tokens totaled $ 1,464 – which is more than the incentives distributed by President Donald Trump in the US after the coronavirus quarantine.
After the draw was announced and traders took action to claim their free digital currency based on the second largest blockchain in just one hour, ETH miner fees hit a new peak, with a total spend of $ 1 million.
ETH Gas Fee Increases to 700 Gwei
Glassnode also shared that the ETH gas fee has also skyrocketed, reaching 700 Gwei. That’s a little less than $ 5.66 fee. Earlier today, Messari reported that after the announcement of free tokens, at least over 22,681 addresses were UNI.