Monday, July 15, 2024
HomeETHTransaction costs for Ethereum are currently as low as USD15: Report

Transaction costs for Ethereum are currently as low as USD15: Report

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.

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Jeewan Singh
Jeewan Singh
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.


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