The two most important crypto trends to be aware of today are Ethereum usage and Ethereum transaction fees. Usage of DeFi applications on Ethereum has exploded (total value locked increased from $2B on July 1 to $6.6B today) but Ethereum transaction fees have also exploded (average gas fees increased from ~47 gwei to ~115 gwei in the same period).This has interesting implications for the space. While a new wave of speculative high dollar value DeFi applications has reinvigorated excitement within the crypto community, the fees and UX still may not be ready for broader adoption. There's a number of great teams doing their best to solve the fee and UX problems and we think an eye toward the bigger picture is healthy during speculative waves.
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1confirmation Newsletter - Issue #87
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The two most important crypto trends to be aware of today are Ethereum usage and Ethereum transaction fees. Usage of DeFi applications on Ethereum has exploded (total value locked increased from $2B on July 1 to $6.6B today) but Ethereum transaction fees have also exploded (average gas fees increased from ~47 gwei to ~115 gwei in the same period).This has interesting implications for the space. While a new wave of speculative high dollar value DeFi applications has reinvigorated excitement within the crypto community, the fees and UX still may not be ready for broader adoption. There's a number of great teams doing their best to solve the fee and UX problems and we think an eye toward the bigger picture is healthy during speculative waves.