Ethereum transaction fees have reached a historic low of 0.067 Gwei following the Dencun upgrade in March 2024. This upgrade has drastically reduced data and settlement costs, leading to a nearly 99% drop in gas prices during certain periods. For instance, in October 2024, gas prices peaked at 15.9 Gwei before plummeting to 0.5 Gwei within two days.
The reduction in fees has shifted cost burdens from Ethereum's base layer to Layer 2 solutions such as Arbitrum, Optimism, and Base, enhancing throughput but decreasing base layer settlement income. This shift has made validators more dependent on block rewards, raising concerns about the network's long-term sustainability. Additionally, the recent dismissal of a major MEV-related legal case has introduced further uncertainty into Ethereum's governance and legal frameworks.
Ethereum Gas Fees Plummet to 0.067 Gwei Post-Dencun Upgrade
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
