>"The average transaction fee on Ethereum costs $7.5, three times that of Bitcoin. These ludicrous fees are not sustainable."

If Ethereum does not solve the problem with the cost of transactions, then the top 2 cryptocurrencies will be taken by other projects such as Polkadot, Near, Solana.

On Sept. 17, Ethereum’s transaction count crossed an all-time high of 1.34 million for the first time since its 2018 peak. Moreover, during the 2017 bubble, non-value based transactions like smart contract execution on Ethereum was less than 2% of the network’s total transactions, which has risen to an extraordinary 50% as of Friday.