Average cost to make a transaction () at $2.96 on Sunday (May 29), hitting its lowest level in more than ten months. At the moment, the number is slightly higher, 0.002 ($3.56) per transaction.

Ethereum network fees hit 10-month low

According to a report from Santiment, low gas fees show interest in using the platform of the has decreased significantly.

Transaction fee of Ethereum hasn't been that low for quite some time. Like already news about the fact that gas fees have been falling since mid-February and in the first week of March slipped below the $10 mark.

The last time the average ETH fee fell below $3 was on July 11, 2021, about ten months ago. In fact, for a few weeks in July 2021, the average gas charge for using a Layer-1 (L1) network of Ethereum from less than 3 to 8 USD per transaction.

In addition to the average Ethereum fee dropping to a new low, the average gas fee has also dropped significantly this week. For example, on March 8, 2022, the average ETH fee was 0.0014 ETH ($3.73) per transaction and today it's 0.00065 ETH ($1.04).

Ethereum network fees hit 10-month low

Cost to make a transaction on is about 9.98 USD, swap on decentralized exchange () as today is 9.1 USD.

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Cost to move ERC20 tokens like or is about 2.67 USD. Regarding Ethereum's mining reward, miners earned about 50,241,489 yesterday (May 2), equal to 94.7% of miner () obtained on the same day, $53,035,200.

The Layer-2 (L2) transaction fees for transferring ETH are also quite low. Zksync transactions are around 0.04 USD and swaps cost 0.09 USD. Loopring's ETH transaction fee is at $0.04 per transfer, but swaps will require $0.45. Use just 0.12 USD and will need 0.23 USD for each ETH transaction.

When ETH fees are low, this is a good time to trade if there is a need to move ETH or ERC20, swap tokens or conduct a market sale. .

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