Ethereum (ETH) ecosystem transaction fees have entered a period of decline since Jan. 10, noting average fees and average fees of $14.17 and $5.67 respectively, the lowest since September 2021.
Follow Data By Blockchair, Ethereum’s average transaction fee was $53.03 in January and peaked at $70.83 in May 2021. In just one month, it fell nearly 73.3%.
Additionally, the average transaction fee is down 81.02% from $29.88 in January. Over the past six months, Ethereum’s average transaction fee has been as low as September at $6.26.
This is the first time in history that the number of ETH transactions has dropped so much in 30 days. In November 2021, Vitalik Buterin proposed a new limit on the total number of call data transactions in a block to reduce the total cost of transactional call data over the Ethereum network.
An ETH miner working on 2Miners: Solo Pool validated a block alone and received a reward of around $540,000.
The miner earned 168 ETH for successfully mining the block, far exceeding the average reward per block of around 4 ETH.
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