Following Ethereum’s transition from proof-of-work (PoW) to proof-of-stake (PoS) on September 15, the blockchain network’s transaction fees have been much lower than they were ten days before The Merge. Roughly four months ago on May 13, 2022, high-priority ether transactions could cost 68 gwei or $2.97 per transaction, and today at $0.18, a high-priority ether transaction is 93% cheaper.
Ethereum Fees Remain Low Following The Merge
The cost to transact on the Ethereum network is cheaper post-Merge, as etherscan.io’s gas tracker indicates a high priority transaction on September 17, 2022, is around 8 gwei or $0.18 per transfer. 12 days ago on September 5, a high-priority ETH transfer was 14 gwei or $0.47 per transaction.
The fee metrics from etherscan.io indicate that today’s ETH transaction