{"id":414250,"date":"2022-03-10T09:33:56","date_gmt":"2022-03-10T06:33:56","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ethereum-gas-fees-drop-to-lowest-levels-since-august-2021\/"},"modified":"2022-03-10T09:33:56","modified_gmt":"2022-03-10T06:33:56","slug":"ethereum-gas-fees-drop-to-lowest-levels-since-august-2021","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ethereum-gas-fees-drop-to-lowest-levels-since-august-2021\/","title":{"rendered":"# Ethereum gas fees drop to lowest levels since August 2021"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3bf6ccdca9a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3bf6ccdca9a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ethereum-gas-fees-drop-to-lowest-levels-since-august-2021\/#%E2%80%9D_Ethereum_gas_fees_drop_to_lowest_levels_since_August_2021_%E2%80%9C\" >&#8221; Ethereum gas fees drop to lowest levels since August 2021 &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Ethereum_gas_fees_drop_to_lowest_levels_since_August_2021_%E2%80%9C\"><\/span>&#8221; Ethereum gas fees drop to lowest levels since August 2021 &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-128018ef>Gas fees for transactions on the Ethereum (ETH) blockchain have dropped to the lowest levels since August. But they\u2019re still not cheap.<\/p>\n<p>According to data <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/coinmetrics\/status\/1501555024610185223?s=20&amp;t=a_5w0MOoT4s2U5CgexfH7g\">sourced<\/a> from Coinmetrics and shared by CryptoRank Platform, the seven-day moving average cost of an Ethereum transaction as of March 9 totaled $11.14, placing it back amongst the levels recorded mid-last year before it surged dramatically to as high as $55 at the tail end of 2021. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The cost of transactions on the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/ethereum?ref_src=twsrc%5Etfw\">@Ethereum<\/a> network has not been this low since Aug 2021. Notably, gas prices surged after staying in this range for about 3 months with experts attributing the spike to a rise in interest in the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/NFT?src=hash&amp;ref_src=twsrc%5Etfw\">#NFT<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/DeFi?src=hash&amp;ref_src=twsrc%5Etfw\">#DeFi<\/a> ecosystems.<\/p>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/oLDJyfSea2\">https:\/\/t.co\/oLDJyfSea2<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/ieigvLT4Gz\">pic.twitter.com\/ieigvLT4Gz<\/a><\/p>\n<p>\u2014 CryptoRank Platform (@CryptoRank_io) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoRank_io\/status\/1501541713155817475?ref_src=twsrc%5Etfw\">March 9, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nAt the time of writing there <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to be minimal network congestion, with Etherscan data estimating gas fees to cost around 30 Gwei ($1.53) for a low-speed confirmation to 32 Gwei ($1.64) for a high-speed confirmation.<\/p>\n<p>Ycharts data also shows that the average gas price of Ether has been dropping rapidly since the start of the year, plunging all the way from 218 Gwei on Jan.10 to 40.82 Gwei as on yesterday. <\/p>\n<p>Amid booming growth of Ethereum\u2019s nonfungible token (NFT) and decentralized finance (DeFi) sectors in 2021, the network has come under fire on multiple occasions for its outrageously expensive gas fees. <\/p>\n<p>Lower congestion and lower fees appear correlated with waning speculation or interest in NFTs and DeFi during the start of this year compared to late 2021. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Does the future of DeFi still belong to the Ethereum blockchain?<\/em><\/strong><\/p>\n<p>In terms of the last 30 days, DappRadar data shows that nine out the 10 top marketplaces on Ethereum have seen decreased trading volume, with first-placed LooksRare and second-placed OpenSea both shedding 78.27% and 34.75% apiece. Other notable losses include SuperRare and Rarible with 73.29% and 80.65% each. <\/p>\n<p>Ethereum-based DeFi too is also suffering too, with eight out of the top 10 projects in all-seeing red over the past month in terms of total value locked (TVL) and native asset token price. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-03\/15e87b19-fa5a-48b6-8b35-68e35cc7f1f1.png\"><figcaption style=\"text-align: center;\"><em>DeFi project TVL losses: DappRadar <\/em><\/figcaption><\/figure>\n<p><template data-name=\"subscription_form\" data-type=\"nifty_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/ethereum-gas-fees-drop-to-lowest-levels-since-august-2021\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Ethereum gas fees drop to lowest levels since August 2021 &#8220; Gas fees for transactions on the Ethereum (ETH) blockchain have dropped to the lowest levels since August. But they\u2019re still not cheap. According to data sourced from Coinmetrics and shared by CryptoRank Platform, the seven-day moving average cost of an Ethereum transaction as&#8230;<\/p>\n","protected":false},"author":1,"featured_media":414251,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvMTMzMTg4NGQtNjFhNC00NGFlLWJiMWUtYTljMWQ5NzIxZWUzLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74894,74868,74891,95118,72366,72927,86389],"class_list":["post-414250","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-blockchain","tag-defi","tag-ethereum","tag-nft","tag-data","tag-fees","tag-marketplace"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/414250","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=414250"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/414250\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/414251"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=414250"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=414250"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=414250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}