Gas Fees on Ethereum Network Drop Below 1gwei: Significant Reduction in Transaction Costs
Publication Time:2024-08-19 15:01:07
Recently, the gas fees on the Ethereum network have been steadily declining, dropping below 1gwei, indicating a significant reduction in transaction costs. This is a major boon for users of the Ethereum ecosystem as it means that the fees associated with various activities, such as executing swap transactions, purchasing or selling NFTs, performing inter-chain operations, and engaging in borrowing activities, will be notably reduced. Specifically, the average fee for swap activities is $0.95, for NFT sales activities is $1.61, for inter-chain operations is $0.31, and for borrowing activities is $0.81. This change not only reduces the cost for users to transact on the Ethereum network, but also provides strong support for the overall activity levels in the cryptocurrency market.
Ethereum
Gas fees
Inter-chain operations
NFT Sales
Transaction Costs
Swap activities
Borrowing activities