Ethereum Gas Prices Soar as Traders Head for the Stablecoin Exits
– The price of gas on Ethereum has increased significantly over the past few days, due to increased activity on the network.
– A large portion of this activity is due to transfers of the stablecoins Tether and USDC.
– The value of ETH has decreased over the same period, which typically would lead to lower gas prices.
– Some believe that the increased activity on the network is due to traders selling Tether, mistaking it for the unstable Terra stablecoin.
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