🚀 Ethereum Gas Fees Hit Rock Bottom! 🚀

• Ethereum's median gas fees have nosedived to a five-year low, plummeting to just 1.9 gwei on Aug. 10. That's a nearly 98% drop from March's peak of 83.1 gwei!

• Low-priority transactions? They're now priced at a mere 1 gwei, or about seven cents. Talk about a bargain!

• The Dencun upgrade in March, featuring nine Ethereum Improvement Proposals (EIPs), is a game-changer, introducing proto-danksharding to slash layer-2 transaction costs.

• Layer-2 networks are booming, with Base clocking over 109 million transactions in the past 30 days, outpacing Ethereum's 33 million.

Source: DarrenSRS, Martin Köppelmann