Ethereum gas fees reach $500K as ETH price hits a 2020-high at $486 By Cointelegraph

Ethereum gas fees reach $500K as ETH price hits a

Ethereum gas fees reach $500K as ETH price hits a 2020-high at $486

Transaction fees on the network have recently reached a new hourly record. According to Glassnode, an on-chain analytics firm, miners on the network earned over $500,000 in just one hour today as Ether (ETH) rallied.

Currently sitting at its 2020-high of $486, Ether rallied 10% today. The spike in network activity is thought to be related to the launch of Sushiswap, a fork of Uniswap which has hit $1 billion in total value locked in less than 24 hours.

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