On February 28th, the recovery of the NFT market pushed the gas cost of Ethereum to 38 gwei in February, a new high in the past 9 months. In the past 9 months, the median gas price of Ethereum basically remained in the range of 10-20 gwei, only It hit 36 gwei during the FTX crash in November and 24 gwei during the “Binance Run” in December.
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According to the analysis, the increase in the median gas price of Ethereum indicates an increase in network demand and activity, while the gas used in NFT transactions has risen by 97% for two consecutive months, which is largely due to Blur. Ultrasound.money data shows that as of now Blur ether The burning volume of Fangfang has exceeded 6800 ETH, higher than that of Coinbase.
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