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Ethereum reaches 1 million NFT buyers as gas fees sink

·1 min read

The total number of unique non-fungible token (NFT) buyers on the Ethereum blockchain crossed the 1 million customers milestone on Sunday as the network’s gas fees slid to its lowest since August.

See related article: Ethereum price expected to hit $7,609 in 2022: report

Fast facts

  • NFT sales on Ethereum increased by 36.06% in the last 24 hours, more than any other blockchain with at least US$100,000 in sales over the period.

  • August’s London hard fork was expected to lower transaction fees as the blockchain moved from an auction-based gas mechanism to a base fee system.

See related article: Jump in NFT demand reflects crypto prices, right? Wrong