Ethereum average gas fee falls down to $1.57, the lowest since 2020

[newshunter]

Ethereum average gas fee falls down to $1.57, the lowest since 2020

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.

Source: Ethereum average gas fee falls down to $1.57, the lowest since 2020

Would appreciate your opinion about this

[TomPluz]

This is actually a bitter sweet kind of thing with Ethereum. You are selling an ERC-20 token before and you are required to pay a hefty sum of gas fees just to be able to do so...now the gas fees are affordable though not yet really that normal at least compared to BNB Chain...and yet you know that the value of your tokens has already dropped manifold...and you can only shake your head in disappointment. Ethereum for me is a big failure until they can make sure to get back to the time when gas fees are ranging from $.05 to $.20.

[cheezcarls]

Although I am happy that Ethereum’s gas fees are now being lowered, it’s just that it’s still out of control when network congestion commences again anytime without warning. I remember the time that the highest amount I have paid for the gas fee was almost $100 just to exchange an ERC20 token, but good thing that the value was much more so I’ll take it. How I wish that ETH’s gas fees would lower with the likes of Binance Smart Chain, Polygon, etc.