Ethereum gas fee falls to the lowest since 2020

What do you think of the latest news that Ethereum gas fees have never been so low? I mean, the last time we had this situation was back in 2020.

The Ethereum network's average gas fee has dropped to 0.0015 ETH ($1.57). The last time the transaction charge was this low was in December of 2020. As a result of the abrupt drop in pricing, daily NFTs sales have also fallen to one-year lows.

A few months ago people were annoyed with the expensive costs of gas fees, searching for various L2 solutions that will help them to lower those expensive prices and reduce slow transactions, I've started using Metis after spending so much time in search of the right one solution. It was really tough period tbh and look at it now, who would say that just a few months later we would have this kind of situation.

Many users said and tweeted that Ethereum is finally usable again lol. How long do you think this is going to last?

There might be various explanations for the decrease in gas prices. Most notably, the crypto markets have seen a significant slump in the recent two months, causing crypto values to fall. ETH is presently trading at $1,144, down more than half from its all-time high. Another factor for the drop in gas prices might be network liquidation.

So, when the price starts to rise again, I suppose that the price of gas fees would rise as well. What do you think?