Ethereum transaction costs have remained exceptionally low, staying at approximately 0.01 USD or 0.16 gwei per transaction. Despite a rise in activity, where daily transactions peaked at 1.6 million—an increase not witnessed since the market downturn in October—gas fees continue to reflect a robust and scalable network.
Ether transactions for token swaps are priced at around 0.15 USD and 0.27 USD for non-fungible token (NFT) transactions, according to information provided by the blockchain data aggregator Milkroad.
This price stability starkly contrasts earlier highs during peak network activity periods that previously drew criticism towards Ethereum’s transaction costs.
Ethereum gas fees, 1-month chart
Ethereum gas fees, 1-month chart. Source: milkroad.com/ethereum
Ethereum’s Transaction Volume Increase Amid Low Fees
The number of daily transactions on the Ethereum network surged to 1.6 million recently, reaching a nearly 30-day high. This surge comes in the wake of a major liquidation event that previously impacted the market severely.
Ethereum total transactions, 1-year chart
Ethereum total transactions, 1-year chart. Source: app.Nansen.ai
Active addresses on the network also increased, hitting a monthly high of 695,872, according to industry insights from Nansen.
Ethereum’s consistently low gas fees follow a series of network upgrades, including Dencun and Pectra, aimed at enhancing throughput and reducing costs. The Pectra upgrade effectively doubled the capacity for layer-2 transactions, yielding a reduction in costs by about 50%. Furthermore, Ethereum’s earlier upgrade, Dencun, has contributed to decreasing transaction fees by up to 95% since its initiation in March 2024.
