In May, Ethereum’s failed transactions soared to another 1.2million. This is an increase of 200,000 over last month and more than 2% of all failed transactions in Ethereum’s history.
Blockchair, a blockchain data explorer, reports that exactly 1,228,131 Ethereum transactions failed between May 01st and May 31st. High fees are a problem for Ethereum. The cost of gas has risen to 474.57 gwei since the beginning of May. There is a minimum transaction fee of 21,000 gas. However, the cost of gas in ETH/ gwei terms can vary depending on demand. The 1.2 million transactions that failed to go through were all subject to non-zero transaction fees as well as gas fees. Over 83,000 transactions were already unsuccessful within the first three days. The same happened for March’s 1 million transactions. Unfortunately, these failed transactions don’t pay gas fees back to the sender.
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