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Ethereum

Ethereum News Today – Headlines for September 17

  • Ethereum’s pending transactions have gained 30% since Uniswap’s token came to light
  • The number of pending transactions on Ethereum jumped from 160,000 to 210,000
  • Ethereum’s average gas fee has reached 650 Gwe

Ethereum News Today – the total number of pending transactions on the Ethereum network per minute has reportedly jumped by a whopping 30%. This became the case after the claim for Uniswap’s token began. The decentralized trading platform has announced at 00:30 UTC on Thursday that it has released its governance token known as UNI. It will roll out 1 billion tokens. These tokens will be released for four years.

Meanwhile, the liquidity mining for Unisawp’s governance token will not begin until this Friday, September 18. According to Uniswap, liquidity providers and historical users on the platform will be able to claim 400 UNI each.

Number of Pending transactions on Ethereum Has Jumped from 160,000 to 210,000

According to Uniswap:

15% of the UNI can be claimed immediately by historical users, and liquidity providers, based on a snapshot.”

After the announcement, the total number of pending transactions on Ethereum jumped from 160,000 to 210,000 at press time according to data provided by Blockchain explorer Etherscan. Three hours after the claim began, more than 18,000 transactions were moved to the smart contract address of the UNI token.

There are over 5,000 of them pending at press time. The number of transactions on the network has reached over 26,000. Meanwhile, the pending transactions have dropped to about 3,700 as of writing. The rising number of transactions transferred to UNI smart contracts may trigger a surge in Ethereum’s gas fee, which Uniswap’s is also built on.

Ethereum’s Average Gas Gee Has Reached 650 Gwei

Ethereum’s current average gas fee has reportedly reached 650 Gwei. This is a new high compared to the average gas fee of 152 Gwei on Wednesday according to data given by Etherscan. The smart contract address for UNI token is currently ranking number 3 when it comes to overall transaction fees over the last three hours. There are currently a total of 534 ETH ($200,000) as of press time according to data given by Etherscan. The traffic on blockchain explorer has reached a new peak position. The last time Etherscan peaked at this level was during the ICO mania in 2017-2018.

Thanks to Unisawp’s successful launch of UNI, Matthew Tan Etherscan’s founder and CEO said in a tweet. Just hours after Uniswap’s announcement, top centralized cryptocurrency exchanges including Huobi, Binance, and OKEx have already listed trading pairs for UNI. The token is now changing hands at $2.9.

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