According to recent insights from a CryptoQuant analyst, Ethereum’s daily mean gas price has reached an all-time low, falling to roughly 2.9 Gwei. This decline in gas prices correlates with a significant drop in daily transaction fees, which now average merely $0.85, marking a multi-year low for the network.
The analyst reported that this cost reduction comes amid a stable or slightly increasing daily transaction volume compared to the past two years, suggesting that lower fees haven’t deterred user activity on the network.
Despite drastically reduced costs, a sustained number of transactions indicates strong network health and continued user engagement, even as financial barriers lessen.
Reason Behind The Plunge In Transaction Costs
Discussing the reason behind the historic lows in the Ethereum fee structure, the
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