The fees on the Ethereum (ETH) network in the past days were close, or higher to those paid on the Bitcoin (BTC) network, denominated in US dollars. The trend has been observed for a few days, with ETH fees finally crossing the threshold.
https://twitter.com/sassal0x/status/1174347499382792193
But this type of “flippening” does not mean Ethereum is anywhere near displacing the Bitcoin network in its uses. Rather, this is the result of higher fees, due to the specific economics of paying for gas. Currently, several smart contracts are taking over the network, including a growing investment scheme that looks like a Ponzi.
A large percentage of the load comes from Tether (USDT), one of the payers of big fees for fast transactions. Other decentralized ...