Amid War situations, Ethereum network’ gas fees spikes to 1,300 gwei
On-chain activities on Ethereum surged because of Ukraine’s favoured initiatives in the crypto industry.
The whole world is witnessing the critical situation of Ukraine because of Russian military invasions. Almost every country’s citizens want to help and support Ukraine in this war against Russia. In the race to support Ukrainians, the crypto community also entered. And also the Government of Ukraine officially announced to accept Bitcoin & Ethereum donations.
To donate funds to the Ukraine government, RELI3F UKR, a Web3 inclined crypto project, announced that it will help Ukraine through the funds collected from NFTs first sale. And also stated that it will use the secondary sale earnings to help Ukraine.
The floor price of these NFTs was 0.053 ETH and jumped to a trade total worth of 456ETH.
RELI3F officially tweeted about its success, aimed to support Ukraine, to collect 370ETH within 30 seconds. Team also noted that it is lower for Web3 and thanked the crypto community.
The small time interval of these 30 seconds was enough to pump the gas fees on the Ethereum network. In the morning of the last day, Ethereum gas fees touched a maximum of 1.3k gwei. Later it turned down to a normal of 100 gwei.
This strange activity was noted by Chinese crypto blogger Colin Wu. However, these efforts are best at a great level but people are still not sure whether money is going in the right hands or not.
Read also: Ukraine officially enters in crypto to receive donations
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