Gas fees on the Ethereum network have been falling since March 2024, but last week they hit their lowest level in five years. 📉

According to data from the Dune platform, the median Ethereum gas fee fell below 2 gwei last week for the first time since 2020. The decline is attributed to factors such as investor sentiment, the general crypto market downturn, and the Dencun upgrade.

The ETH price also fell 3% during this period and is trading at $2,560.