Ethereum network fees fell to nine-month lows, and gas fees once dropped to 1 gwei

Ethereum network fees hit record low this week

Record Low: This week, Ethereum network fees dropped to a nine-month low. Gas fee dropped: Gas fee once dropped to 1 gwei, which means that the cost of a swap transaction is about 1 US dollar.

precise data:

IntoTheBlock reports: Ethereum network fees have dropped significantly, according to analysis by IntoTheBlock. Transaction costs: This reduction in Gas fees has significantly reduced transaction costs and improved user experience.

Reduced transaction fees: The cost for Ethereum users to conduct transactions is significantly reduced, attracting more users to participate in transactions. Network congestion relief: The reduction in gas costs may be related to the relief of network congestion, which improves network efficiency.

Market Reaction:

Increased activity: Lower transaction fees may promote the activity of the Ethereum network and attract more developers and projects. Enhanced competitive advantage: Ethereum’s competitive advantage as a smart contract platform has been further enhanced, which is conducive to the development of its ecosystem.

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