ETH Fee Collapse: We Just Hit a 2017 Low.
The latest Glassnode data confirms a major structural shift in network usage. The 90-day Simple Moving Average for total daily settlement fees on $ETH has cratered below 300 ETH/day. This level of fee depression has not been observed since July 2017.
This is not a bullish indicator for short-term network health. While low fees are beneficial for end-users, this historical floor signals severely reduced demand for block space and settlement transactions. It directly impacts validator revenue and reflects a deep, sustained lull in activity across decentralized finance (DeFi) and NFT markets. The underlying health of the Ethereum ecosystem, often masked by macro $BTC trends, is currently sitting on a seven-year low in terms of core utility monetization.
This is not financial advice.
š
