Coinbase Passes High Gas Fees to Users, Bitcoin on Ethereum Tops $1 Billion

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2020-09-18 17:54 (UTC+8)

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Wrapped Bitcoin (WBTC) on Ethereum is the largest tokenized Bitcoin project since its launch in early 2019, with over 60,500 tokenized BTC minted to date, accounting for over 65% of the total tokenized BTC supply .

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Editor's Note: This article comes fromCybtc Blockchain (ID: cybtc_com), reprinted by Odaily with authorization.

Editor's Note: This article comes from

Cybtc Blockchain (ID: cybtc_com)

, reprinted by Odaily with authorization.

On-chain data platform Glassnode revealed that the launch of the UniSwap (UNI) token has caused serious congestion on the Ethereum network, which has led to a surge in ETH miners’ fees, with miners receiving nearly $1 million in fees within an hour.

Due to excessive fees, the US cryptocurrency exchange Coinbase Pro announced in a tweet today that the exchange will begin passing on network fees (also known as Gas on the Ethereum blockchain) to its customers. The generated ETH fees are paid directly to the Ethereum miners who process the transactions and secure the blockchain network.

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