Fees on the Ethereum network have reached an average of $10.20 per transaction as of Sunday, according to data from YCharts. The network's fees went higher on only two occasions in 2020, briefly averaging $12.54 in early September. They again rose to $11.69 near the middle of the same month.
Ethereum network transactors faced high fees on and off last year as a partial result of the decentralized finance, or DeFi, boom, which utilized the blockchain for various lending and yield farming activities. At times, the high fees made it difficult for contributors to participate in DeFi activities.