Ethereum (ETH) Gas Fees at Multi-Month Lows, Data Says

Thanks to the introduction of blobs in post-Dencun Ethereum (ETH), network usage becomes more cost-optimized than ever before. Developers are wondering whether the gas price will surge once market activity recovers.

Ethereum (ETH) average gas price plunges to 6 Gwei

Today, according to automated tracking services, the average gas fee on the Ethereum (ETH) network reached 6 Gwei. This is the lowest level since January 2020, Etherscan data says. As a result, all on-chain operations in Ethereum (ETH) became extremely cheap for accounts.

Per Etherscan, users can swap assets with a $5 commission, while cross-chain bridging is available at $2. For $9, users can mint non-fungible token on Ethereum (ETH).

In terms of USD-demominated gas fees, today's prices are the lowest in six months: last time the USD price for ETH gas was so low was in November 2023.

This dropdown should be attributed to both the effects of the Cancun-Deneb (Dencun) upgrade and the low on-chain activity on Ethereum (ETH). As crypto prices take a breath amid a rally, many usage metrics dropped in the last few days.

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