Some of the new data provided by both platform showed: easy And the Currency Scales The Ethereum network’s daily transaction fees have exceeded Bitcoin transactions for the first time since last March.

Some analysts argue that fees can be a more accurate indicator of demand than the number of transactions or the volume of transactions, knowing that both are subject to fraud.

According to Messari’s data, during a 24-hour period earlier last week, $207,000 was spent on transactions in Ethereum, while Bitcoin lagged behind with an estimated fee of $180,000.

One of the main reasons for the fee increase is Tether.

Tether was migrated to Ethereum from its original Omni protocol, which was built on the Bitcoin blockchain.

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A Coin Metrics report confirms what was published that Ethereum fees are on the rise while Bitcoin has been on the decline for the past 30 days.

The same report also stated that Tether transactions represented 25% of all Ethereum transactions, which contributed to the fee increase, overtaking Bitcoin for the first time since last March.

Flipping the fees on us 🐬

ETH is about to surpass BTC in daily tx fees. As of September 15, ETH had a daily tx fee of $182,899, and BTC was worth $185,993.

ETH has flipped BTC fees for a while in the past but now it is driven by Tether which should be a stable source of demand. pic.twitter.com/tU510uptul

– Anthony Sassano (@sassal0x) September 17, 2019

While the mining group Bitfly interacted with the report, explaining that the increase in fees is also due to the Ethereum test to increase the maximum “gas”, which explains a 25% increase in network fees, as “gas” is compensated by the fees paid by users to conduct operations on the network.

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Etherscan also published a graph on the use of Ethereum and the amount of “gas” consumed in completing transactions, as follows:

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Ethereum is being developed to further improve its efficiency and reduce current transaction fees through the next update, on which tests have begun, and we have already mentioned some of them in the title:

The Ethereum network reveals the next network development date

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