The price of ETH isn’t the only thing that’s been dropping in recent months. The cost to use the Ethereum network has declined as well.
The average price of gas on the Ethereum blockchain is at its lowest point since March 2020, according to a report today by crypto market research firm Coin Metrics.
Gas refers to the transaction fee on Ethereum, and it’s currently in the 15-30 gwei range. That’s down from roughly 10 times that amount in April, when transaction fees rocketed into the double-digit dollar amount as ETH’s price was soaring.
