#OP #OPTIMISM #Crypto2023 #dyor

The average transaction fee on the Optimism L2 network dropped by 56% - from $0.57 to $0.16 - after the recent Bedrock update, according to the Dune dashboard.

Average gas fees in Optimism before and after the update. Data: Dune.

Over the past few days, users have saved almost $150,000 on gas bills.

“The majority of the total transaction cost, about 86%, comes from the expected cost of sending data to [Ethereum],” said Michael Silberling, a network data fellow at The Block at OP Labs.

According to him, the reduction in commissions at Optimism is due to the fall in gas prices on the main network. At the time of writing, the average in Ethereum is 30 Gwei.

Average gas fee in Ethereum. Data: etherscan.io.

At the moment, Optimism is one of the cheapest second-tier networks in terms of commissions. In the rating of the L2Fees service, only Loopring and Polygon are ahead of it.

Average commission in L2 networks. Data: l2fees.info.

According to DefiLlama, the total amount of blocked funds in Optimism reaches $865.5 million.