Ethereum transaction fees reached a 10-month low

 

Ethereum transaction fees reached a 10-month low

• After the fee reached 2.96 USD per transaction on Sunday afternoon (ET).

• The last time Ethereum's transfer fee fell below $3 a year

• July 11, 2021. Moreover, the average fee is cheaper

Since the average Ethereum transaction fee on May 29 is

about 0.00086 ether or $1.56 per transfer.

Ethereum gas costs have fallen to their lowest level since July 2021

Ethereum network fees are the cheapest they have been in more than ten months and around 12pm (ET) on Sunday, decreased

Average ETH transfer fee to $2.96 per transaction. As the day continued, the average ether fee jumped slightly higher to 0.002 ether or $3.56 per conversion.

Ethereum transaction fees have not been

very low in some time. Bitcoin.com news covers the fact that costs

• Gas has declined since mid-February

• and during the first week of March

• Ethereum transaction fees fell to just over $10.

The last time the average ETH fee

fell below $3 was July 11, 2021, or nearly ten months ago.

In fact, within a few weeks in July 2021, the average gas costs using the first layer network (L1) of Ethereum were between

Less than $3.00 to just over $8.00 per transfer. In addition to reducing the average shipment of Ethereum to new lows, the costs of medium-sized gas decreased significantly

Big this week :

too. For example :

on March 8, 2022, the average ether charge was 0.0014 ETH or 3.73 USD

USD per conversion, today is 0.00086 ether or 1.56 USD.

Furthermore :

Opensea's sale costs about $10.63 at the end and $10.26 at a lower fee. Report

Currency swaps on a decentralized trading platform (dex) such as today's Uniswap cost $9.69 at the high end, while It can cost at the low end $9.36 per transaction.

The transfer cost of a ERC20 code such as USDT or USDC is about $4.37 per conversion.

Regarding Ethereum's total 24-hour ETH mining bonuses, miners withdrew approximately $50,241,489 on Sunday, May 29. This represents about 94.7% of the fees received by bitcoin miners (BTC) on Sunday

Bitcoin miners earned $53,035,200 in

bitcoin mining bonuses over the past 24 hours.

The second tier transfer fee (L2) to send Ethereum (ETH)

is also low on Sunday.

• Zksync transactions are about $0.04 to send Ethereum

• and $0.09 to exchange currencies.

• The ether transaction fee in Loopring is the same

at $0.04 per conversion

but switching currency will cost $0.45 using Loopring.

Using optimism will cost $0.12

per ether conversion :

and using Arbitrum One will cost $0.23 for ethereum transfer.

Currently :

• Boba Network charges $0.17 per ether transaction.

• The cost of the Token Bupa swap is $0.35.

• When ETH fees are low

This is the time to make transactions if there is a need to transfer ethereum, ERC20, switch tokens or make a sale in the non-replaceable code (NFT) market.