Ethereum fees have continued to slide week after week and are now at the lowest value in seven months. On Tuesday, March 8, the average layer one (L1) Ethereum gas fee is 0.0042 ether or $10.89 per transfer. At the same time, median-sized gas fees are much lower as well, hitting values not seen since August last year.
L1 Ethereum Fees Plunge — Median-Sized, L2 Fees Follow
While L1 ethereum (ETH) gas fees are nowhere near below $1 per transfer, ether transaction fees are continuing to drop from January’s highs. It’s possible there’s been less on-chain transaction activity and ETH fees may have been alleviated by the increased use of L2 protocols like Optimism, Arbitrum, and Polygon.
At the time of writing, the average gas cost to transact on the Ethereum blockchain is 0.0042 ETH or $10.89 per transfer. The last time average gas costs on Ethereum were this low was seven months ago on August 4, 2021. Similarly, median-sized ether fees are low as well, as data shows median-sized fe
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