Ethereum Gas Fees Drop Well-Below 1 Gwei in November
The post Ethereum Gas Fees Drop Well-Below 1 Gwei com. Gas fees on the Ethereum layer-1 blockchain dropped to just 0. 067 Gwei on Sunday, amid a lull in the crypto markets sparked by October’s historic market crash. The average price for executing a swap on Ethereum is just $0. 11, non-fungible token (NFT) sales carry a fee of $0. 19, bridging a digital asset to another blockchain network will cost users $0. 04, and onchain borrowing costs $0. 09 at the time of this writing, according to Etherscan. Ethereum network transaction fees hit a recent high of 15. 9 Gwei on October 10, the day of the market flash crash that caused some altcoins to shed over 90% of their value within 24 hours. However, by October 12, fees dropped back down to just 0. 5 Gwei and mostly remained well below 1 throughout October and November. Ethereum layer-1 gas prices over the last month. However, analysts and crypto industry executives warn that the excessively low fees might spell trouble for the Ethereum ecosystem. Related: Ethereum fees hover near pennies as daily transactions top 1. 6M The Ethereum base layer has seen a loss of revenue since 2024 During the 2021 bull run, transaction fees on the Ethereum layer-1 could cost users $150 or more during times of network congestion. However, following the Ethereum Dencun upgrade in March 2024, which lowered transaction fees for Ethereum’s layer-2 scaling networks, fees contracted significantly, causing Ethereum’s revenue to decline by 99%. Ethereum layer-1 network fees 2023-2025. Because fees are.