📣🚀 Ethereum (ETH) Recorded Lowest Average Gas Fees Since November 2016! According to Dune Analytics, on June 30, the average gas fee dropped to just 3 Gwei, equivalent to $0.14.

🔍Analysts attribute the significant reduction in fees to increased efficiency in the layer-1 (L1) market, which is driven by increased layer-2 (L2) volume and the introduction of “blob transactions” via EIP-4844, which has improved Ethereum scalability.

👥Low gas fees make the network more accessible to a wider audience, encouraging more users and developers to interact with the platform. This could lead to increased adoption of Ethereum-based applications and services, strengthening the network's position in the blockchain ecosystem.

📈What are your thoughts on this? Let's discuss in the comments!