$99 Gas Fees on Ethereum Are Crippling DeFi’s Growth

Cointelegraph

Published Aug 14, 2020 12:02AM ET

Updated Aug 14, 2020 01:40AM ET

The surging popularity of decentralized finance (DeFi) protocols on Ethereum (ETH) has contributed to skyrocketing fees, with the network processing an all-time high of $6.87 million in total fees yesterday.

Speaking to Cointelegraph, Synthetix (SNX) founder and CEO, Kain Warwick warned that high fees were impacting the growth of DeFi, stating:

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