Ethereum’s average network price fell to a record low in more than 10 months after hitting a low of $ 2.96 per transaction on Sunday afternoon (ET). The last time Ethereum’s transfer fee fell below $ 3 was last year on July 11, 2021. In addition, the median transaction fee for Ethereum on May 29 is about 0.00086 ether, or $ 1.56 per transfer, so the median fee is even lower.
Ethereum gas costs sink to the lowest level since July 2021
Ethereum network rates are the cheapest on average around 12:00 pm (ET) on Sundays for more than 10 months. ETH The transfer fee has slid to the lowest $ 2.96 per transaction.. As the days went on, the average ether charge increased a bit to 0.002 ether or $ 3.56 per transfer.
Ethereum transaction fees haven’t been this low for quite some time. Bitcoin.com News says gas costs drop Ethereum transaction fees fell during the first week of mid-February to March Just above the $ 10 mark..
Last average ETH Prices fell below $ 3 on July 11, 2021, or about 10 months ago. In fact, for the weeks of July 2021, the average gas cost using Ethereum’s Layer 1 (L1) network was between just under $ 3.00 and over $ 8.00 per transfer.
In addition to the average Ethereum tariff dropping to new lows, median gas costs have also dropped significantly this week. For example, on March 8, 2022, the median ether rate was 0.0014. ETH Or $ 3.73 per transfer, and today 0.00086 ether or $ 1.56..
In addition, the Opensea sale costs around $ 10.63 at the high end and $ 10.26 at the low end. Redeeming coins on decentralized exchange (dex) platforms such as Uniswap today costs $ 9.69 at the high end, but can cost $ 9.36 per transaction at the low end.
The cost of moving an ERC20 token, such as: USDT Also USDC, About $ 4.37 per transfer.Regarding Ethereum’s 24-hour total ETH Mining rewards, miners withdrew about $ 50,241,489 on Sunday, May 29th. This is about 94.7% of Bitcoin fees (BTC) Bitcoin miner earned $ 53,035,200, so miner earned on Sunday BTC Mining rewards for the last 24 hours.
Layer 2 (L2) transfer fee Send Ethereum (ETH) Sunday is also pretty low. Zksync The transaction is about $ 0.04 to send Ethereum and $ 0.09 to exchange coins. Loop ringThe ether transaction fee is the same, $ 0.04 per transfer, but coin exchange costs $ 0.45 using Loopring.use Optimism It costs $ 0.12 for each ether transfer and utilization Arbitr tram one It costs $ 0.23 to move Ethereum.
Boba NetworkThe ether transaction fee is currently $ 0.17 and the cost of exchanging tokens using Boba is $ 0.35.when ETH Fees are low and it’s a good time to trade if you need to move Ethereum or ERC20, exchange tokens, or sell on the Non-Fungible Token (NFT) Marketplace.
What do you think about Ethereum’s network prices dropping to lows that haven’t been seen since last summer? Please let us know what you think about this subject in the comments section below.
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