Santiment: Traders don't seem to care much about Ethereum network fees, the current fee increase may be driven by DeFi activities

According to Santiment's social traffic, there has been no significant surge in conversations about Ethereum fees, indicating that traders are not particularly sensitive to these changes. This may be because the average fee of $3.23 is still relatively low compared to the higher fees seen earlier this year, with March's fees soaring above $15 during market peaks. One of the main contributors to these fees is WETH, whose dominant position in fee contributions suggests that traders are using DeFi platforms extensively. This indicates that the current rise in fees may be driven by an increase in DeFi activity, which is usually a positive sign for ecosystem health. Interestingly, following WETH, the next four contract addresses contributing to Ethereum network fees are Hana (HANA), Virtual USD (VUSD), Incept (INCEPT) and Doggo (DOGGO).