ETH Gas Fees Drop 53% in Just 1 Month Amid Market Slump
Ethereum's average transaction fee has dropped to a 20-day low as investors lose confidence in the current market.
https://coin68.com/phi-gas-eth-giam-53-chi-trong-1-thang/In the midst of a bear market, the average transaction fee of ETH, which was previously very “expensive” has also recorded a strong reversal signal, is fluctuating around 0. 0096 ETH, equivalent to 24.64 USD.
https://coin68.com/phi-gas-eth-giam-53-chi-trong-1-thang/The average ETH fee hasn't been this low since January 1, 2022, when ASF hovered around $25.75 per transfer. Comparing from Jan 10 at $52.46 per transaction, ASF is currently 53.03% lower.
Besides, the median fee (MSF) on Ethereum is also significantly lower, as the MSF on ETH on January 10, is $29.92. Statistics show that MSF on Ethereum is in the range of $8.37 to $10.82, 63.83% lower than the index in the above timeframe. The median is often used instead of the mean when there are outliers in the data series that could skew the mean.
https://coin68.com/phi-gas-eth-giam-53-chi-trong-1-thang/However, projects that scale up layer 2 (L2) have the opportunity to express themselves at a very affordable fee. According to data from Ll2fees.info, Polygon Hermez is the cheapest L2 protocol today with $0.25 per transaction. Next is Loopring (LRC) with $0.29, Zksync ($0.37), Optimistic ($1.21), Arbitrum ($1.73) and Boba Network ($1.74).
https://coin68.com/phi-gas-eth-giam-53-chi-trong-1-thang/However, the decrease in gas fees always brings two-way signals to investors. Because the market all dropped at the same time, the price of ETH was also seriously affected, so users can buy ETH at a cheap price for fees, easy access and broader experience in the DeFi space. or NFT.
On the contrary, this is also a sign that traders are no longer satisfied with the current market picture, their interaction with the ETH ecosystem is not as active as before, even retreating from the current market. This will cause negative sentiment on the ground, preventing the recovery and growth of ETH in the near future.
My money's on Vitalik launching the first 2 phases of ETH 2.0 in 2022, which would push the system to Proof of Stake and include sharding. This would not be the full ETH 2.0 rollout, but the core of it is planned to be implemented later in the year.
Loopring is also poised to become a great L2 solution for Ethereum moving forward, though it'll be interesting to see how L2 solutions fare in the coming ETH updates!
