Average transaction fees on Ethereum record low This is because more activities are being moved to Layer-2 (L2) networks.
frominformationUltrasound.money’s average gas value dropped to 4.81 Gwei, the lowest level since the network completed Merge activities in 2022.
Market observers stated that This decrease is due to increased activity on the L2 network afterUpgrade Dencun Done, the Dencun upgrade has significantly reduced fees for the L2 network, making transactions on the regular layer less attractive.
especially Blockchain analytics platform IntoTheBlock reported that :
“More transactions are now being settled on Ethereum Layer 2. As of last month, the three largest L2s accounted for 82% of all Ethereum transactions.”
Moreover, the number of transactions on Arbitrum has been growing strongly. There were more than 2 million daily transactions on May 8, a significant increase from the early March average of 1 million.
refer : cryptoslate.com
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