Ethereum Gas Fees Hit Lowest Point in 2020, Raising Questions on Future of High Costs.

Quick Summary:

In a significant development for Ethereum, the average gas fee on the network has dropped to 6.8 Gwei, marking the lowest level since January 2020, as shown by YCharts.

This decrease in gas fees has made all on-chain operations, including asset swaps, cross-chain bridging, and non-fungible token (NFT) minting, considerably more affordable for users.

Meanwhile, Ultrasoundmoney’s data shows a significant decrease in the burn rate of ETH, with only 521.02 ETH burned in the past day, further evidence of the softened deflationary impact post-Dencun.

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Article Details

Author / Journalist: Samuel Edyme

Category: Crypto

Markets: Hungary

Topics: Altcoin Crypto Ethereum ETHUSDT Ethereum network ETH Ethereum gas fees

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-05-11 @ 03:00:51 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: bitcoinist.com

Language: English

Article Length: 473 words

Reading Time: 3 minutes read

Sentences: 36 lines

Sentence Length: 14 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Bitcoinist

News ID: 20934776

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