Ethereum Fees Fall to Two-month Low
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The daily average gas fee for transactions and contract execution on the Ethereum blockchain recently dropped to its lowest point in two months, after reaching expensive highs in May amidst the memecoin trading mania.
On-chain data from The Block indicates the seven-day average transaction fee on Ethereum – using US dollars for the benchmark – has gone from over $20 to $7.34.
The last time the fee was this low was April 17, when it registered at $6.57.
An analogous measurement in gwei (one billionth of a full ether token) shows the daily median gas price dropping from exceeding 140 gwei to 24 gwei, a last record compared to April 12.
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