The average cost of an NFT deal once approached $400 due to a spike in Gas fees
The spike in prices across the cryptocurrency market has triggered a sharp rise in Ether Gas fees, which at one point exceeded 174 gwei over the past 24 hours, which pushed the average cost of completing an NFT transaction on Ether past $372.29, meaning that users must pay hundreds of dollars to make a transaction complete even if they're exchanging profile pictures between friends for free (PFP ), they would have to pay hundreds of dollars to make the transaction complete. Additionally, the cost of exchanging tokens on Ether can be almost as high as $220, and these costs may offset the potential profits from switching tokens.
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