Ethereum Transaction Fees Rising Hints At DeFi Season Round Two
Over the summer months, Ethereum transaction fees ran hot, causing the DeFi trend and Uniswap token swapping boom to finally run out of steam. Ethereum at the peak reached 390% year to date returns on the heels of DeFi | Source: ETHUSD on TradingView.com
Because all of this required Ether to pay gas fees, Ethereum’s price followed the parabolic trajectory that TVL laid forth.
ETH gas fees are rising again for the first time since the downtrend began | Source: Etherscan.io But with it picking up again, another DeFi season could happen amidst a greater altcoin market “alt season.” Related Reading | Here’s What Will Happen To Altcoins Once Bitcoin Breaks $20,000 And as Bitcoin’s price per coin increases, the trend of investors looking to cheaper altcoins for profits, or to put BTC profits into, altcoins and DeFi tokens are likely to explode with far more intensity than the summer months demonstrated.