#Ethereum’s gas fees have plummeted to levels not seen in years, with the base fee dropping to just 0.8 gwei.

This significant decline has led to a reduced ETH burn rate, impacting Ethereum’s supply dynamics.

The decrease in fees is largely attributed to the adoption of Layer 2 solutions and recent network upgrades, enhancing transaction efficiency.  While lower fees benefit users, they also result in less ETH being burned, potentially influencing the cryptocurrency’s value proposition.