Ethereum Gas Prices Fall to Lowest Level in 2021 – Yahoo Finance

Ethereum Gas Prices Fall to Lowest Level in 2021 – Yahoo Finance

Ethereum network fees have fallen to their lowest levels this year as the crypto markets continue to consolidate.

One of the few advantages of a down-trending market is a decline in demand for Ethereum and the resultant drop in gas fees.

According to BitInfoCharts, the average transaction fee on the Ethereum network has fallen to $3.70 — its lowest level since the end of December 2020.

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The gas slump comes less than a month after average fees for transactions hit an all-time high of $70. This occurred on May 12 which coincided with the ETH price peak of $4,300 on the same day.

Gas prices are now at the lowest level seen in 2021 but are still over 500% higher than they were this time last year. In June 2020, average transaction fees were around $0.60 according to the chart.

The move has not gone unnoticed by Ethereum users, with one tweeting about the single digit gas.

DeFi fees have fallen

The figures from BitInfoCharts are just an average and gas fees can vary wildly depending
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