📉 Bitcoin and Ether transaction fees fell to their lowest levels in months during one of the crypto market's bloodiest weeks in 2024. On June 23, the average Bitcoin transaction fee was $1.93, the lowest level since October 2023. This indicates a decrease in online activity and competition. Gas fees on the Ethereum network have also hit a new low, with gas prices as low as 1 gwei, the lowest in years. This is due to the transition of activity from Ethereum's base layer to its layer 2 network following the Dencun update in March.