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Ethereum fees skyrocketed as traders raced to unwind leveraged positions

Ethereum fees surged to record highs amid the recent crypto downturn, with users paying more than 2,000 gwei to execute transactions at its peak.Digital asset research firm, Delphi Digital, noted gas prices oscillated between 1,500 and 1,700 gwei for approximately one hour as DeFi liquidations drove “gas wars amongst liquidators

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