As of February 13, 2022, according to data, the average transaction cost on the Ethereum gas fees has plummeted to its lowest level in four months, marking the lowest level in four months. The last time eth gas costs on Ethereum were this low was in mid-September 2021, and since then, the average rate has dropped to around $15.13 per transfer.
The fees for Ethereum are decreasing.
Compared to the middle of January 2022, when the average transaction fee on Ethereum was around $52.46 per transfer, it is less expensive to transact on Ethereum now. As of now, data suggest that it will cost 0.0052 ETH, or $15.13 per transaction, to transfer ethereum (ETH). Furthermore, the median-sized transfer charge on Ethereum gas fees is even less expensive, according to data on bitinfocharts.com, which shows that today's median-sized gas fee is 0.0023 ETH or $6.67 per transfer on the blockchain.
The lowest transfer fees crypto has dropped to their lowest level in four months and is now 71 percent lower than in January.
The average Ethereum gas fees charge today is 0.0052 ETH, or $15.13 per transfer, according to the Ethereum network. Because of this, Ethereum costs have not been this low since the middle of September in 2021.
The last time Ethereum costs were this low was four months ago, in the middle of September 2021, according to CoinMarketCap. During that period, the average transaction charge on the Ethereum network was more than $15 per transaction on average. The costs charged today are 71.15 percent less than the average transaction fee of $52.46 that was recorded on January 10, 2022. However, the average eth gas charge on the Ethereum gas fees is still 552 percent more than the average transaction fee on the Bitcoin (BTC) network, which is now $2.30 per on chain transfer at the time of writing.
The smallest L2 transfer fee is $0.19 per transfer, while five out of six L2 platform fees are less than $1.
As a result of the ethereum gas fees calculator, which took place on August 5, 2021, and the deployment of the Ethereum Improvement Proposal (EIP)-1559, the cryptocurrency asset has become deflationary. Almost 2 million ether, or 1,828,701 bitcoin, has been burnt from that fateful day in August until this day. The amount of ethereum (ETH) burnt equals around $6.6 billion in USD worth. Of course, since onchain Ethereum network transfers are less costly than off-chain Ethereum network transfers, layer-two (L2) network fees are also less expensive.
L2 platforms mentioned on l2fees.info are now available for less than a dollar on five of the six platforms currently available. So, for example, if a user wants to move the ethereum gas fees calculator using Zksync, it will cost them $0.19 for each transfer, and if they use Loopring, it will cost them $0.20 per transfer.
Polygon Hermez costs are now $0.25 per ETH push, lowest transfer fees crypto are around $0.80 per ETH transfer, and Optimism fees are $0.83 per ETH transfer. Users will have to pay extra gas to swap tokens on these networks. On Sunday, the cheapest L2 way to trade tokens is via Zksync, which charges $0.45 per blockchain transaction.
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