The average Ethereum gas fee over the past week was 498% higher than the monthly average, with the median transaction cost rising to $1.69

Data shows that the surge in on-chain activity on Ethereum has led to a spike in transaction fees over the past week. From September 16th to 26th, the average Gas fee was 498% higher than the average of the previous 30 days. The median transaction cost of Ethereum rose from $0.09 at the beginning of the month to $1.69. In addition, Ethereum DEX trading volume increased by 9% month-on-month, and Ether transfer volume increased by 17%, further pushing up transaction costs.