Ethereum still leads in gas fees despite 4-year low in transaction costs

Ethereum continues to carry out gas costs of all time, especially in DEFI, despite a drop in activity on the chain and lowest transaction costs in more than four years.

Depending on the data analysis platform GrowhepieThe blockchain of the layer 1 of Ethereum always dominates in the gas costs of all time generated in all sectors (finance, game, NFT, etc.), with the exception of social.

In Challenge alone, Ethereum (Ethn) accumulated more than $ 1.68 billion in gas costs. He leads other blockchains in gas costs defined on all deadlines (all time, monthly, 3 months and every week). This shows that Ethereum is always the dominant platform in terms of USE DEFI, even if layer 2 solutions generally offer cheaper costs.

While Ethereum generates all time gas feesReal transaction costs (costs for sending individual transactions) are currently at their lowest levels in more than four years (the last time, it was cheap to use Ethereum for transactions was in July 2020). This is mainly due to the fact that the median gas price (the price that users pay to treat transactions) is very low at the moment, with an average of 3 (a small fraction of an ETH). On February 16, it was even lower at 1.19 Gwei, which was the lowest since January 2020.

However, although Ethereum always carries out gas costs and transaction costs are low, activity on the chain on Ethereum actually slows down, which means that there is less request for Ethereum transactions rather than increased network efficiency. The 7 -day mobile average (7DMA) of the Ethereum chain volume fell to around $ 3.77 billion on February 18, marking the lowest daily volume for Ethereum since November 2024.