Ethereum Gas Surges as WLFI Token Fuels Network Congestion

Ethereum gas prices soared to 126 Gwei, reaching levels not seen in recent weeks, spurred by a surge in trading activity related to the new WLFI token. This spike is largely attributed to heavy trading on decentralized exchanges and social media platforms, with traders rushing to buy, sell, or swap the token. This led to an overwhelming number of transactions on the Ethereum mainnet, causing congestion and subsequently driving up gas prices.