Ethereum

Ethereum gas fees are now 62% cheaper than last month

More than a month ago (November 9th), transaction costs on the Ethereum network were very high, up to $ 62.84 per transaction, not to mention ERC-20 token moves, token swaps, or similar collaborations with Smart contracts. Currently, the metrics show that the average fee on the Ethereum network is $ 22.8 (0.0056 ether), a decrease of 62.85%.

The average fee level is also 62% lower than the metrics recorded on November 9th for average Ethereum fees. The data transfer charges are even lower when you factor in the average charges reported by statistics from l2fees.info. Yesterday (December 25th) the transaction fee on Ethereum was $ 6.78 per transaction, but moving the token would cost $ 15.49 per transfer.

Layer 2 networks are still cheaper

Currently, the token swap costs users $ 33.89 per transaction. Of course, Layer-2 (L2) transfer fees are much lower, and the provider with the lowest fees today is Loopring at $ 0.16. This is followed by Polygon Hermez ($ 0.25), Zksync ($ 0.33), Arbitrum One ($ 1.87), and Optimism ($ 2.00). To exchange tokens or interact with Ethereum-based smart contracts, it costs Zksync users $ 0.81, Loopring costs $ 1.02, Optimism $ 2.82, and Arbitrum $ 3.22 per transfer.

In addition to the increasingly cheaper Ethereum network fees, Bitcoin network fees are now much lower too. In fact, bitcoin fees have averaged between $ 1.5 and $ 5 per transaction since the end of July, according to Bitinfocharts.com data. On Saturday (December 25th), the average bitcoin fee was 0.000046 BTC, about $ 2.36 per transaction or 0.0000001 BTC per byte. The network hit a hefty fee of $ 62.77 on April 21, 2021, suggesting that the current fee is already 96.24% cheaper than the high on that day.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Follow the Youtube Channel | Subscribe to telegram channel | Follow Facebook page

CoinX

Recent Posts

BlockDAG Surges Past $170M as BDAG250 Bonus End Countdown Begins – Aave Targets $400 & Solana Shines with Scalability

BlockDAG crosses $170.5M in presale success with BDAG250 bonus and Whitepaper V3 launch! Solana grows…

8 minutes ago

Qubetics Presale Price Surge Approaches: The Best Coins to Invest in Right Now While Toncoin, and XRP Gain Traction

Discover why Qubetics, Toncoin, and XRP are the best coins to invest in right now.…

38 minutes ago

Book of Meme Old News? This Best Meme Coin to Invest in 2024 Is Multiplying Gains Like a Champ

Over the years, meme coins have evolved from inside jokes into serious investment opportunities.

2 hours ago

Time’s Ticking on BlockDAG’s 5-Tier Bonus- Few Days Left to Grab It While Cardano Whales Take Action, Aave Rallies Strong

Discover BlockDAG's five-tier bonus program's closing phases that enhance buyer holdings. Gain insights on the…

2 hours ago

Best Altcoins to Buy for 2025: Qubetics Presale Surge, Solana’s Lightning Speed, and Cardano’s Blockchain Revolution

Discover why Qubetics, Solana, and Cardano are redefining the crypto landscape. Learn about milestones, price…

3 hours ago

Why Qubetics, NEAR Protocol, and IMX Are Dominating Crypto: The Best Altcoins to Join Today for Game-Changing Returns 

Discover why Qubetics, NEAR Protocol, and Immutable X are the best altcoins to join today,…

5 hours ago

This website uses cookies.