Ethereum Fees Drop to the Lowest Rate in 4 Months, 71% Lower Than Transfer Fees in January

The mean transaction interest connected the Ethereum web has dropped to the lowest level successful 4 months, according to statistic connected February 13, 2022. Mid-September 2021 was the past clip state fees connected Ethereum were this low, arsenic mean fees person dropped to astir $15.13 per transfer.

Ethereum Fees Slide Lower

It costs little to transact connected Ethereum today, than it was successful mid-January 2022, erstwhile the mean transaction interest connected Ethereum was astir $52.46 per transfer. Today, statistic bespeak that successful bid to determination ethereum (ETH), it volition outgo 0.0052 ETH oregon $15.13 per transaction. The median-sized transportation interest connected Ethereum is adjacent cheaper, arsenic metrics connected bitinfocharts.com bespeak the median-sized state interest contiguous is 0.0023 ETH oregon $6.67 per transfer.

The mean Ethereum web state interest contiguous is 0.0052 ETH oregon $15.13 per transfer. Ethereum fees person not been this debased since mid-September 2021.

The past clip Ethereum fees were this debased was 4 months agone successful mid-September 2021. In betwixt that time, the mean transaction interest connected the Ethereum outgo much than $15 per transaction. The fees contiguous are 71.15% little than the $52.46 mean transaction interest recorded connected January 10, 2022. Today’s mean state interest connected Ethereum is inactive 552% larger than the mean transaction interest connected the Bitcoin (BTC) network, which presently is $2.30 per onchain transfer.

Lowest L2 Transfer Fee Is $0.19 per Transfer, 5 retired of 6 L2 Platform Fees Under $1

Since the Ethereum London upgrade connected August 5, 2021, the implementation of the Ethereum Improvement Proposal (EIP)-1559 has made it truthful the crypto plus is deflationary. Since that time successful August, adjacent to 2 cardinal oregon 1,828,701 ethereum has been burned truthful far. The fig of ethereum (ETH) burned is equivalent to $6.6 cardinal successful USD value. Of course, with onchain Ethereum web transfers being cheaper, layer-two (L2) web fees are little costly arsenic well.

Currently, 5 retired of six L2 platforms listed connected l2fees.info are little than a dollar. To determination ethereum (ETH) utilizing Zksync, it volition outgo a idiosyncratic $0.19 per transfer, and leveraging Loopring volition outgo $0.20 per transaction. Polygon Hermez fees contiguous are $0.25 conscionable to propulsion ETH, Arbitrum One fees are astir $0.80 and Optimism fees are $0.83 per ETH transfer. Swapping tokens connected these networks volition outgo the users much gas. The cheapest L2 method to swap tokens connected Sunday is via Zksync astatine $0.45 per blockchain transaction.

What bash you deliberation astir mean transaction fees connected the Ethereum web dropping? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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