The median price to send an Ethereum transaction hit 1.9 gwei on the weekend, with low-priority transactions priced even lower.
The median price to send a transaction on the Ethereum blockchain has plummeted to a five-year low, with low-priority transactions dropping to around 1 gwei or lower as activity on layer 2 networks continues to climb.
Ethereum’s median gas fees fell to 1.9 gwei on Aug. 10, according to Dune Analytics data. It is the lowest level in data going back to mid-2019 and a nearly 98% drop from its 83.1 gwei year-to-date high in March.
Etherscan gas fee tracking data for Aug. 12 shows that low-priority Ethereum transactions — those sent in around ten minutes — was priced at 1 gwei, or about seven cents.
