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Cryptocurrency Ecosystem => Ethereum Forum => Ethereum News & Updates => Topic started by: Jaya60 on July 03, 2022, 06:41:27 PM

Title: Ethereum average gas fee falls down to $1.57, the lowest since 2020
Post by: Jaya60 on July 03, 2022, 06:41:27 PM

For nearly two years, between Jan. 2021 and May 2022, the average gas fee required by the Ethereum network was roughly $40, with May 1, 2022 recording the highest average daily gas cost of $196.638.The Ethereum (ETH) ecosystem’s biggest roadblock to mainstream dominance is often attributed to the extremely high transaction fees or gas fees it requires to complete a transaction. However, with Ethereum’s average gas fees coming down to 0.0015 ETH, the narrative is set to change.

The average transaction fee on the Ethereum blockchain fell down to 0.0015 ETH or $1.57 — a number previously seen in December 2020. However, starting in January 2021, Ethereum’s gas fees surged owing to the hype around nonfungible tokens (NFT), decentralized finance (DeFi) and a promising bull market.more information (https://cointelegraph.com/news/ethereum-average-gas-fee-falls-down-to-1-57-the-lowest-since-2020)