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TagsWhat is the daily gwei and how does it relate to the cryptocurrency market?
BehemotkowaDec 25, 2021 · 3 years ago1 answersCan you explain what the daily gwei is and how it is connected to the cryptocurrency market? I've heard the term before but I'm not sure what it means or how it impacts the market.
1 answers
- The daily gwei is a term commonly used in the Ethereum community to refer to the average gas price in gwei for transactions on the Ethereum network in a day. Gas is used to pay for computational operations and storage on the network. The daily gwei can vary depending on the network congestion and the demand for transactions. In the cryptocurrency market, the daily gwei can be an important metric to monitor as it can provide insights into the level of activity and usage of the Ethereum network. Higher daily gwei values may indicate increased demand and usage, while lower values may suggest lower activity. Traders and investors often consider the daily gwei when making decisions related to Ethereum and other cryptocurrencies.Dec 25, 2021 · 3 years ago
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