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Ethereum Gas Price Drops to Lowest Rates Since March 2020

Amy Liu

Summary: The average price of gas on the Ethereum blockchain is at its lowest point since March 2020, according to a report today by crypto market research firm Coin Metrics. Gas refers to the transaction fee on Ethereum, and it's currently in the 15-30 gwei range. One gwei is a fraction of one ETH (0.000000001 ETH) ...

The average price of gas on the Ethereum blockchain is at its lowest point since March 2020, according to a report today by crypto market research firm Coin Metrics.

Gas refers to the transaction fee on Ethereum, and it's currently in the 15-30 gwei range. One gwei is a fraction of one ETH (0.000000001 ETH) .

According to Coin Metrics, that's because projects are increasingly using "scalability solutions" like Polygon and Arbitrum, which take some of the strain off of Ethereum while still leveraging it.

By Amy Liu

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