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Ethereum transaction fees

Ethereum transaction fees are 62% lower than last month

Ethereum transaction fees are 62% lower than last month, shown in the data from I2fees.info and bitinfocharts.com. Last month’s gas fees per transaction were $62.84 on Ethrereum Network which has lowered to $23.34 per transaction today.

Ethereum transaction fees are 62% lower:

The second-largest crypto asset, Ethereum never misses the chance to amaze us. The developer behind the network is working very hard to keep the network on track and scalable for investors. Last month, an upgrade, EIP-4488, was made on the network to reduce the gas fees of the network. It seems that this upgrade has fulfilled its purpose of launch. Ethereum transaction fees have been lowered by a large margin.

Ethereum transaction fees

Ethereum transaction fees are 62% lower than last month. A month ago the transaction fees on the Ethereum network were pretty high. On November 9, gas fees per transaction were $62.84 which have lowered to $23.34 today. A 62% savings per data transfer cost is considerable and the median ether fee is even cheaper. Statistics from bitinfocharts.com indicate that on November 9, the median ether fee was $34.28 per transaction, and today, the fee is 0.0032 ETH or $12.99.

Ethereum transaction fees

Data transfer fees on the network are even less costly. On Saturday, the per-transaction cost was $6.78 when transacting with the Ethereum but when a token is transferred the fees go up to $15.49.  Swapping a token will cost the user $33.89 per transaction according to l2fees.info statistics today. Of course, layer two (L2) transfer fees are much lower and the lowest provider today in terms of fee rates is Loopring with $0.16 per ether transfer.

Read more here.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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