Ethereum layer 2s push gas fees to single-digit four-year lows
Share link:In this post: Ethereum gas fees fell to single digits in recent days following low prices. Users are paying as low as 1 gwei, or $0.007, to send ETH. Analysts predict transaction costs will not remain this low for long.
Low prices caused Ethereum gas fees to fall to single digits in the past few days. Etherscan, Ethereum’s blockchain explorer, indicates that users paid as little as 1 gwei to send ETH. These numbers have not been seen since 2020, and analysts predict they will not remain this low for long.
Ethereum gas fees fell to lows not witnessed since 2020. Data from blockchain explorer Etherscan revealed that users paid 1 gwei, or 0.007, to send ETH on August 10th, the lowest gas fee on record in about four years.
On August 11th, Etherscan recorded that the gas fees doubled to 2 gwei. Ethereum underwent the Berlin hard fork in 2021, and since then, gas fees have not fallen below 10 gwei in more than 20 days.
Ethereum’s L2s record increased activities
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