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Memecoin Craze Spurs Ethereum Gas Fee and Layer 2 Adoption 

May 6, 2023
in Crypto Exchanges
Reading Time: 2 mins read
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The explosive reputation of meme cash has led to an sudden surge in demand for Ethereum, which has in flip created considerations in regards to the community’s rising gasoline charges. Most meme cash are traded on Ethereum-based decentralized exchanges, which require customers to pay charges to course of transactions.

Excessive Ethereum gasoline charges will push extra adoption to layer 2s like optimism, Arbitrum, polygon, and ZkSync.

This was all the time the plan.

Bullish.

— RYAN SΞAN ALTCOIN – rsa.eth 🏴🦇🔊 (@RyanSAdams) Could 5, 2023

Rising Fuel Charges and Layer 2 Options

A sensational tweet lately highlighted that the sudden improve in demand for Ethereum has led to an increase in gasoline charges. This has prompted customers to discover different options resembling layer 2 options like Optimism, Arbitrum, Polygon, and ZkSync. These options are designed to be sooner and cheaper than utilizing the primary Ethereum community, making them enticing to customers searching for less expensive methods to transact. The tweet means that this was all the time the plan and that it’s excellent news for the way forward for these options.

Associated: Ethereum Worth Prediction 2023, 2024, 2025, 2026 – 2030.

Bubble Warning and Memecoin Craze

Nevertheless, one other tweet warns that the excessive gasoline charges related to Ethereum, coupled with the cyclical timing of market displacement, may result in a bubble within the cryptocurrency market. Regardless of this warning, the meme coin craze reveals no indicators of slowing down, and Ethereum stays the first forex of alternative for meme coin buying and selling.

You’re gonna want some #Ethereum to swap these meme cash

Fuel charges already rising, highlighting a sudden catalyst of demand

Add in cyclical timing of displacement and we’ve got a recipe for a crypto bubble 🫧 pic.twitter.com/6Rv0rhkQgS

— Tony “The Bull” (@tonythebullBTC) Could 6, 2023

Rising Curiosity in Scalability

Consequently, the necessity for Ethereum to facilitate meme coin buying and selling is driving up demand for the community, and this demand is accelerating the adoption of layer 2 options. This means a rising curiosity within the scalability of the community, which might be a optimistic signal for the way forward for Ethereum and its related layer 2 options.



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Tags: AdoptionCrazeEthereumFeeGasLayerMemecoinSpurs
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