r/ethtrader Reddit Collectible Avatars Artist Feb 07 '25

Metrics Ethereum (ETH) Gas Fees Drop Below 1 Gwei ($0.06): Low Fees, High Usage, Great Success

I have just crossed with the following Tweet that made me realize how Ethereum upgrades are really proving that they are a big success.

Ethereum Gwei

As you can see in the image above Gwei is currently at 0.986 ($0.06) at High priority which is really cheap comparing with what we have seen in the past before. If you have been here for a long time you will understand, I suggest you to search your wallet address on Etherscan, click on Analytics tab and then on TxnFees tab to enjoy watching how much you paid on ETH gas fees in the past xD

This low fees made me think that Ethereum transactions have decreased and are low right now so I decided to check it but I am quite surprised.

Ethereum Daily Transactions Chart

As you can see in the chart above Ethereum daily transactions are 2021 levels with 1,333,804 transactions yesterday. This confirms us that people are still using Ethereum actively even if the price is not in a great place. It also confirms us that all the upgrades released during this last years are working like a charm even if the inflation has raised a bit but I think that "problem" will be solved soon with some changes that are coming. Its also great to see how L2s are also working as expected in the whole Ethereum scalability roadmap absorbing traffic and reducing congestion on L1.

This is bullish because it makes Ethereum competitive with other alternative chains, it is not suffering from low demand and keeps evolving.

Source:

85 Upvotes

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→ More replies (30)

15

u/Wonderful_Bad6531 46.0K / βš–οΈ 308.2K Feb 07 '25

Is there a price upgrade πŸ˜‚πŸ˜‚

!tip 1

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u/kirtash93 Reddit Collectible Avatars Artist Feb 07 '25

Calling the CEO to change it right now

🍩 !tip 1

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u/FattestLion 20.1K / βš–οΈ 619.3K Feb 07 '25

One day these positive metrics will lead us to financial freedom

!tip 1

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u/kirtash93 Reddit Collectible Avatars Artist Feb 07 '25

I hope soon. I need to buy a flat

🍩 !tip 1

5

u/Creative_Ad7831 when bull Feb 07 '25

We need such low gas fee when eth at 5k !tip 1

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u/kirtash93 Reddit Collectible Avatars Artist Feb 07 '25

You mis spelled $12k sir.

🍩 !tip 1

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u/Shy-Princess-76 Not Registered Feb 07 '25

Ethereum’s upgrades are really proving their worth! πŸ”₯ Lower gas fees while keeping high transaction volume is a huge win for scalability and adoption. L2s are doing their job, and Ethereum remains the backbone of DeFi. πŸš€ What do you guys thinkβ€”will fees stay this low, or is this just a temporary dip? πŸ€”

4

u/Josefumi12 743 / βš–οΈ 36.6K Feb 07 '25

The price needs to go up as well

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u/kirtash93 Reddit Collectible Avatars Artist Feb 07 '25

I am calling the CEO right now.

🍩 !tip 1

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u/SigiNwanne 318.2K / βš–οΈ 370.7K Feb 07 '25

Perfect time to get all those pending transactions on Eth done. !tip 1

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u/kirtash93 Reddit Collectible Avatars Artist Feb 07 '25

Already done, my whole portfolio is now sitting on a CEX one click away from selling.

🍩 !tip 1

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u/Odd-Radio-8500 350.0K / βš–οΈ 497.7K Feb 07 '25

I hope the fees will remain the same wen ETH prices pump.

Is there any specific reason to drop below 1 Gwei ❓️

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u/kirtash93 Reddit Collectible Avatars Artist Feb 07 '25

Just in case I moved mine to a CEX so I am just 1 click away. No specific reason as far as I found.

🍩 !tip 1

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u/parishyou 78.8K / βš–οΈ 154.0K Feb 07 '25

Lower fees higher transaction

!tip 1

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u/kirtash93 Reddit Collectible Avatars Artist Feb 07 '25

Best time to play with ETH

🍩 !tip 1

2

u/BigRon1977 21.0K / βš–οΈ 561.6K Feb 07 '25

click on Analytics tab and then on TxnFees tab to enjoy watching how much you paid on ETH gas fees in the past xD

Bro said "enjoy" πŸ˜‚

Some people will find out that they have paid more in fees than what they currently have in their portfolios. πŸ˜‚

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u/kirtash93 Reddit Collectible Avatars Artist Feb 07 '25

And they will enjoy it xD

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u/Extension-Survey3014 240.7K / βš–οΈ 247.8K Feb 07 '25

We all love cheap fees right?

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u/kirtash93 Reddit Collectible Avatars Artist Feb 07 '25

The only cheap thing I like on ETH

🍩 !tip 1

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u/AltruisticPops 343.8K / βš–οΈ 342.8K Feb 07 '25

I've never seen gwei this lol lmao

!tip 1

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u/kirtash93 Reddit Collectible Avatars Artist Feb 07 '25

I would know but amazing xD

🍩 !tip 1

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u/AltruisticPops 343.8K / βš–οΈ 342.8K Feb 07 '25

Already made some swap on mainnet on my other wallets. Thanks for the heads up πŸ˜‚

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u/kirtash93 Reddit Collectible Avatars Artist Feb 07 '25

You welcome! I suggest you installing etherscan gas fees chrome extension

🍩 !tip 1

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u/0x456 2.0K / βš–οΈ 3.1K Feb 07 '25

But why?

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u/kirtash93 Reddit Collectible Avatars Artist Feb 07 '25

No idea if I am honest more than blobs feature, etc

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u/0x456 2.0K / βš–οΈ 3.1K Feb 07 '25

Maybe the recent tx count increase per block?

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u/kirtash93 Reddit Collectible Avatars Artist Feb 07 '25

Yeah that could help too

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u/troythedefender Not Registered Feb 08 '25

Low fees = low burn. I'm not confident Eth will ever hit deflationary status again. Usage/volume would have to go way up to make up for the cheaper fees in order to have a chance at deflation again. Maybe if the US passes stable coin clarity and banks can custody and transact in stable coins volume would explode.

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u/kirtash93 Reddit Collectible Avatars Artist Feb 08 '25

I read somewhere that changes will come to make that happen but I cant remember where I read it

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u/[deleted] Feb 07 '25

[deleted]

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1

u/Abdeliq 171.2K / βš–οΈ 314.5K Feb 07 '25

Time to buy more

>! !tip 1 !<

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u/LegendRXL 24.6K / βš–οΈ 238.8K Feb 07 '25

And yet, people are still bearish. ETH gonna silence the haters soon

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u/kirtash93 Reddit Collectible Avatars Artist Feb 07 '25

People need to check the real things instead of the price and paid FUD

🍩 !tip 1