Ethereum Network Fees Continue to Drop — Transfer Fees Hit Lowest Rate in 6 Months

It’s getting cheaper to nonstop ethereum these days arsenic the state terms to propulsion a transaction is much than 80% little costly than it was to transact with ether 48 days agone connected January 10. On that day, Ethereum web fees were astir $52 per transaction and today, the mean transaction interest is $10.26 per transfer. While on-chain fees are cheaper, furniture 2 (L2) transactions person followed suit dropping importantly during the past 7 days.

Ethereum Gas Fees Continue to Slide

It’s a batch little costly to transact with the Ethereum (ETH) web connected February 27, arsenic mean size fees are down to 0.0039 ETH oregon $10.26 per transfer. The past clip Ethereum web fees were this debased was six months ago, backmost successful late-August 2021.

Currently, with mean fees astatine $10.26 per transfer, it’s 80.26% cheaper than it was transferring ETH connected January 10, 2022. At that clip implicit a period ago, the mean transaction interest was $52 per transaction.

Ethereum fees person been sliding downward ever since that time and median-sized state fees person followed. While the median-sized state interest was $29 successful ether 48 days agone connected January 10, contiguous it’s down 84.31% little astatine 0.0017 ETH oregon $4.55 per transfer.

L2 transactions are besides cheaper than on-chain transactions since state fees person plummeted. Currently, the lowest L2 fee to nonstop ethereum is by leveraging Loopring for $0.13 per transfer. To swap tokens with Loopring, the state fees volition outgo $0.66 per swap astatine the clip of writing.

Loopring is followed by Zksync ($0.16), Polygon Hermez ($0.25), Arbitrum ($0.56), Boba Network ($0.99), Optimism ($1.24), and Aztec ($4.23) successful bid to propulsion an ethereum (ETH) transaction via L2.

The outgo to swap tokens done these L2 platforms is $0.39 utilizing Zksync, $0.78 leveraging Arbitrum, $1.66 via Boba, and $1.83 Optimism.

On-chain fees connected the Bitcoin (BTC) web are besides little astatine 0.000000086 BTC per byte connected February 27, 2022, which equates to 0.000032 BTC oregon $1.20 per transaction. Moreover, the median-sized bitcoin interest connected Sunday is astir 0.0000078 BTC oregon $0.29 per 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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