Ethereum Surges Over 36% to Breach $1160, But High Gas Fee Makes Uniswap Unusable
Ethereum rose 🚀 by more than $400 on December 4th to record a new yearly high of above $1,160 as its market cap breached the $100 billion mark in nearly three years as well.
Why did Ether soar
Gas Fee Spike Makes Uniswap Nearly Unusable
🔹As the price of ETH surged late Sunday, the gas fee for processing transactions spiked too, costing an average of $155 to process a transaction. This also led to a great blockage on Uniswap, a popular DEX platform used for swapping tokens primarily in the defi ecosystem.