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Whales profit as high Ethereum gas fees sideline retail DeFi investors

Published 02/06/2021, 06:30 PM
Updated 02/07/2021, 08:20 PM
Whales profit as high Ethereum gas fees sideline retail DeFi investors

Whales profit as high Ethereum gas fees sideline retail DeFi investors

Since early 2020 the decentralized finance sector has been recieved a lot of attention due to its cutting-edge innovation and the lucrative high yield opportunities offered to cryptocurrency holders.

Despite these features, this week’s record-high gas fees show that the sector is still having growing pains and the absence of a suitable layer 2 solution could be pushing smaller investors away from DeFi.

Average Ethereum gas price. Source: Etherscan
Average Ethereum fees by day in 2020. Source: Flipside Crypto
Number of transfers by wallet size in 2020. Source: Flipside Crypto

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Latest comments

whoa
So whales profiting off other whales? Or where's the profits
ok
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