Ethereum average gas fee falls down to $1.57, the lowest since 2020

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    Between January 2021 and May 2022, the average gas rate charged by the Ethereum network was around $40, with the highest average daily gas cost of $196.638 on May 1, 2022.

    The extraordinarily high transaction costs or gas fees required to conduct a transaction are frequently cited as the Ethereum (ETH) ecosystem’s primary impediment to mainstream dominance. However, with Ethereum’s average gas fees falling below 0.0015 ETH, the story is about to change.

    The average transaction price on the Ethereum network has decreased to 0.0015 ETH or $1.57, a figure last seen in December 2020.

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