Ethereum Gas Fees Are Currently 62% Cheaper Than Last Month – Bitcoin News

The transaction fees charged by the Ethereum network for transactions have fallen more than 50% since November 9th, 2021 (or 46 days ago). In 2016, the fee to transfer ethereum was $62.84 per transaction. The fees have decreased 62.85% to $23.34 every transaction.

Ethereum Transaction Fees Reduced by 62% from $62 to $23

Transferring ETH (ETH) ontochain was expensive a month back. It used to be much cheaper than moving an ERC20 token or swapping tokens. Smart contracts were also more difficult to interact with. The December 25th metrics showed that the average transaction fee for the Ethereum network was $22.80, or 0.0056 Ethereum per transaction.

Ethereum Gas Fees Are Currently 62% Cheaper Than Last Month

It was $23.34 per transaction the day before, which was 62.85% less than November 9’s fees. The median ether fee has a 62% reduction in data transfer costs. According to, on November 9, the median transaction cost for an ether was $34.28. Today’s fee is 0.0032ETH (or $12.99).

Ethereum Gas Fees Are Currently 62% Cheaper Than Last Month

A decrease of 62% in the size of median fees was more than that recorded 46 days back for median ether fees. Even lower data transfer fees can be seen from the statistics, which shows a median-sized record fee. Transacting with Ethereum costs $6.78 per transaction on Saturday. However, moving a token to the blockchain will set you back $15.49 per transfer.

Layer 2 Networks still move Ether, but for less money

According to statistics from, swapping a token costs $33.89 per transaction. Loopring, which charges $0.16 per transfer for layer 2 (L2) fees is the lowest fee provider currently according to statistics. Polygon Hermez (0.25), Zksync (0.33), Arbitrum One (18.777), and Optism (2.00) follow Loopring. A Zksync user will pay $0.81 for a swap or to interact with an Ethereum smart contract. An Optimism and Loopring user will pay $1.02 each. Arbitrum users will pay $3.22.

Ethereum Gas Fees Are Currently 62% Cheaper Than Last Month

Bitcoin (BTC), which is a cryptocurrency, has its own network fees that are lower than Ethereum. data shows that BTC fees have fallen to $1.50-$5.00 per transaction over the past month. According to data, on Saturday December 25, 2021 the average bitcoin fee (BTC) was $0.000046 BTC. That’s roughly $2.36 per transfer or 0.0.0000001 BTC per byte. BTC fees hit a peak of $62.77 (April 21, 2021), which is 96.24% lower than the previous record.

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62% lower, Arbitrum One. Average. Average. Fees. Cost to Transfer, ETH Fees. ETH Killers. ETH Fees. Expensive Fees. Fees. Gas. Loopring. Median. Optimism. Polygon Herez. Web3. Zksync.

Do you agree with the drop in Ethereum network fees of more than 62% from November? Comment below and let us know how you feel about the subject.

Jamie Redman

Jamie Redman, a Florida-based financial journalist and news lead at News is Jamie Redman. Redman joined the cryptocurrency community in 2011 and has been actively involved since then. Redman is passionate about Bitcoin and open-source codes. Redman has contributed more than 5,000 articles to News since September 2015. These articles are about disruptive protocols that are emerging.

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