Ethereum fees make Coinbase give up


After the increase in transaction fees on Ethereum, Coinbase Pro has decided to reflect these fees to its users in withdrawals.

Increasing transaction fees in Ethereum are forcing cryptocurrency exchanges. Popular cryptocurrency exchange Coinbase Pro has changed its attitude over the years, and from now on, it begins to receive network fees directly from its customers.

“Historically, Coinbase Pro has covered these fees on behalf of our customers,” Coinbase Pro said today. However, crypto; As DeFi began to be adopted more widely through applications such as payments and other projects, networks became denser, leading to longer waiting times and higher fees. As of today, Coinbase Pro will pass the network fees directly to our customers. These fees (known as “gas fees” in the ETH blockchain) are given directly to cryptocurrency miners who process the transfers and secure the relevant network. ” expressions were used.

Coinbase Pro; It did not charge any withdrawal fees from cryptocurrencies such as Bitcoin, Ether and Litecoin.

Ethereum transaction fees inflated with Uniswap

The rise of the DeFi field in recent months has been pushing the Ethereum blockchain for good. From yesterday until today, Uniswap has created great density in the Ethereum network by launching its own token, UNI. For those who don’t know, Uniswap has begun distributing UNI tokens to anyone who has made at least one transaction on the platform before September 1, 2020. The demand for these free UNI tokens has increased the transaction density on Ethereum considerably. As a result, transaction fees approached $ 20 during the day. Later, the declining fees are about 5 dollars in the minutes the news is published. On the other hand, Uniswap currently uses 42 percent of the gas in the Ethereum network alone.

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