As of 05:45 UTC (12:45 a.m. ET), the average and median transaction fee on Ethereum reached as high as $23.43 and $11.77, respectively, data from Blockchair indicates.
Average Ethereum transaction fee
Ethereum last broke its transaction fee record a month ago on Jan. 11, hitting an average $19 per transaction. Current values double the peak transaction fees recorded during the "DeFi summer" of 2020.
The increase in fees correlates with the general price run ether has enjoyed since the New Year. The CoinDesk 20 places year-to-date returns on the digital asset at 130%.
The increase in the cost of transacting on the Ethereum network also reflects growing demand for ERC-20 based tokens, particularly stablecoins and the red-hot decentralized finance (DeFi) sector.
Led by tokens like uniswap UNI$4,7626 and aave AAVE$157,77, DeFi's total market capitalization is up 16.37% in 24 hours, according to Messari.
Ethereum miners have been a primary beneficiary of the fee spike. The industry earned some $830 million in ether last month with 40% attributed from fees alone.
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
The Deus X CEO discussed his journey into digital assets, the company's infrastructure-led growth strategy, and why his Consensus Hong Kong panel promises "real talk only."
What to know:
Tim Grant entered crypto in 2015 after early exposure to Ripple and Coinbase, drawn by blockchain’s ability to improve traditional finance rather than replace it.
Deus X combines investing and operating to build regulated digital finance infrastructure across payments, prime services, and institutional DeFi.
Grant will be speaking at Consensus Hong Kong in February.