There is a substantial flow of assets from Ethereum to the Binance Smart Chain (BSC), according to data from Cryptoflows.
Migration From Ethereum To BSC
The shift to move assets from the legacy smart contracting network could be driven by the desire to escape high gas fees.
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For every transaction executed on public ledgers like Ethereum and BSC, a fee is paid. In Ethereum, gas fees remain higher, especially for users deploying smart contracts.
Analysis of the latest gas fee trends on Etherscan indicates shows that network fees have been fluctuating, and generally higher in the past weeks. As of May 17, Gas fees stood at 43 gwei or roughly $1.59 for simple transfers.
Meanwhile, BscScan data shows that users have to pay 3 gwei
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