This happened against the backdrop of a sharp decline in bitcoin quotes to $ 30 thousand. Due to the increased load on the network, the crypto exchange Binance suspended the withdrawal of altcoin and ERC-20 tokens for an hour.
Commissions on the Ethereum network rose above $ 1.3 thousand as a result of the collapse of the crypto market on May 19. On the Uniswap decentralized cryptoexchange, commissions for a quick transaction reached $ 1.35 thousand. The withdrawal of Ethereum and ERC-20 tokens on the world’s largest cryptoexchange, Binance, was unavailable for an hour after the quotes collapse. The platform restored the withdrawal of the cryptocurrency . According to the Ethereum scan service, the average cost of a transaction on the Ethereum network is $ 22.4.
On May 19, the cost of bitcoin per day collapsed by 30%, reaching a local minimum of $ 30 thousand. At the background of the collapse of Ethereum, it became cheaper to $ 1.8 thousand, the main cryptocurrency is trading at $ 39.4 thousand, and the price of the largest by capitalization altcoin is $ 2.8 thousand.
Earlier it became known that the latest Ethereum update fixed a dangerous network vulnerability , which the altcoin developers knew about since March 2019. To increase the security of the blockchain, the project team changed the algorithm for calculating the cost of Gas (the currency that is used in the ether network to pay commissions) and made it more efficient. After the release of the Berlin update, the danger of a possible attack on the network decreased 50 times.
