According to Arcane Research, Ethereum gas fees are declining and are presently at a six-month low. The blockchain analytics firm stated in a new report that the seven-day average of Ethereum transaction costs had been the lowest since August 2021.
A brief look at the data reveals that it has been declining since January. One of the most common comments directed about Ethereum is its inherently high gas prices. This has resulted in the emergence of several alternative blockchain networks that provide the same services at a lesser cost.
Surprisingly, despite the significant decrease in its rates, some customers may still find its present fees too pricey. Token swaps on Ethereum now cost roughly $15, which is surprisingly low given the price was about $200 between September and November 2021.”
Transacting on layer two solutions such as ZKSync, Arbitrum, Optimism, and others, on the other hand, might be substantially cheaper, as some of them enable users to transact for less than $0.1.
