ShibaSwap Causing Hike in Ethereum Gas Prices – CryptoNewsZ

ShibaSwap Causing Hike in Ethereum Gas Prices – CryptoNewsZ

The high gas fees associated with Ethereum are attributed to the record growth in the DeFi transactions achieved by ShibaSwap. The protocol has recently tweeted that it has created history by having more than 1 billion dollars of the total value that has been locked on its platform in one day. According to cryptocurrency experts, this high value of the transaction associated with the platform is the reason behind the high fees charged by Ethereum.

ShibaSwap launched a new swap protocol just a couple of days before, and as a result of this development, the value of its native token $SHIB reached a level an all-time high. While most of the other cryptocurrencies keep fluctuating in terms of value, the worth of $SHIB witnessed a consistent growth pattern. Also, the launch of the new software platform led to the enhanced adoption of the coin, which ultimately fueled the prices of Ethereum gas fees. ShibaSwap has become the leading platform for consuming gas on the Ethereum ecosystem, thereby taking the gas fee to a different level altogether.

It is important to know that just like Uniswap and SushiSwap, ShibaSwap is rising the popularity ladder in the ecosystem of Ethereum. It is increasingly becoming a preferred choice of investors, and it will be interesting to witness whether, in the
Source…