Gas On Empty: Ethereum Fees Fall To 2019 Levels—Details

Ethereum transaction costs have fallen to their lowest point in five years. The drop comes as users pull back from the network amid economic concerns, according to data from Santiment, an on-chain analytics platform.

Ethereum Transaction Costs Plummet To Just 17 Cents

The average fee to process a transaction on Ethereum now stands at approximately $0.168. This steep decline matches a pattern of reduced activity, with fewer people sending Ether or using smart contracts on the blockchain. Brian Quinlivan, marketing director at Santiment, explained the situation in an April 17 blog post.

Market Uncertainty Keeps Traders On Sidelines

According to Quinlivan, low network fees often appear before price rebounds. However, many traders seem to be waiting for global economic questions to clear up before they return to their normal trading patterns.