On May 11th, gas fees on the Ethereum blockchain dropped to 6 Gwei. The last time fees were at this level was in January 2020.
The average gas fee on #Ethereum , according to Etherscan data, is as follows:
- Swapping coins: $6.2
- Selling NFTs: approximately $10.5
- Borrowing: $5.7
- Cross-chain transfers: $2
The reduction in network fees began after the launch of the Dencun hard fork. One of the main components of the upgrade was EIP-4844, which implemented the Proto-Danksharding option designed to scale by creating a new type of transaction for large arrays of binary data (BLOB).
This significantly reduced fees on Layer 2 networks within the ecosystem, especially those based on Rollups technology.
