Ethereum Gas Fees Plunge to Yearly Low – Yahoo Finance

Ethereum Gas Fees Plunge to Yearly Low – Yahoo Finance

Ethereum gas fees have fallen to their lowest in 2021. With average transactions now costing less than one dollar

The recent decline in the crypto market has seen ethereum transactions fall back down to cost-effective levels once again.

Sunday saw the average transaction fee needed was just five gwei, or $0.15.

Source: <a href=Etherscan” src=”https://finance.yahoo.com/news/ethereum-gas-fees-plunge-yearly-130026026.html” data-src=”https://thecryptogas.bid/wp-content/uploads/2021/06/ethereum-gas-fees-plunge-to-yearly-low-yahoo-finance.png”>

Following a surge in price for ethereum, the price hit an all-time high of $4,372 on May 12. Gas fees had begun to surge as ethereum’s price began to tick higher and higher.

Gas fees in May hit a high of 300 gwei as market participants enjoyed bullish momentum across the non-fungible token (NFT), decentralized finance (DeFi), and decentralized exchanges (DEX) sectors.

Source: <a href=Etherscan” src=”https://finance.yahoo.com/news/ethereum-gas-fees-plunge-yearly-130026026.html” data-src=”https://thecryptogas.bid/wp-content/uploads/2021/06/ethereum-gas-fees-plunge-to-yearly-low-yahoo-finance-1.png”>

However, the recent market correction that has seen ethereum drop in price by more than 50% has seen the overall market slow down. The decline in price has hit the market hard as popularity declines. But the negative price action has played favorably in ETH gas fees.

The new yearly lows in transaction fees means traders can now spend as little as $0.12 to transaction on the ethereum blockchain.

DEX volume falling

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