Ethereum’s Average Gas Fees Drop Below 1 Gwei For the First Time in Years
According to Ultrasound.money, only 120 ETH were burned in the past day, while the supply increased by more than 2,500 ETH. This imbalance suggests a growing ETH supply, counteracting the deflationary trend previously observed
Ethereum's Gas Fee Reduction Leads to Supply Increase
According to Etherscan data, the average gas fee on the Ethereum mainnet fell below 1 Gwei yesterday but has since rebounded to around 2 Gwei, or approximately $0.06. Meanwhile, some transactions may still attract fees of up to 5 Gwei, roughly $0.22.
This fee reduction is also noticeable across Ethereum's Layer 2 scaling solutions. Data from Gasfees.io indicates that average fees on Optimism, Base, Arbitrum, and Linea are currently below $0.01.
On the other hand, the reduction in fees has sparked concerns about network inflation. With fewer ETH being burned, the network's supply has been rising.
According to Ultrasound.money, only 120 ETH were burned in the past day, while the supply increased by more than 2,500 ETH. This imbalance suggests a growing ETH supply, counteracting the deflationary trend previously observed.
