Ethereum Gas Fees Drop to Lowest Level Since 2017 After Fusaka Upgrade
Ethereum is witnessing a significant drop in transaction fees (gas fees) to the lowest level since 2017, thanks to the recently implemented Fusaka upgrade. According to Coinpedia, the average fee is now around 1-2 gwei, making the network more efficient and attractive to DeFi and NFT users. This upgrade optimizes the transaction processing mechanism, alleviating the load on validators and increasing processing speeds by up to 30%. As a result, transaction volume on Ethereum has increased by 15% in the past week, with layer-2 applications like Optimism and Arbitrum benefiting greatly. Institutional investors have poured an additional 35.49 million USD into the Ethereum ETF fund, bringing the total net inflow to 12.91 billion USD. However, the price of ETH remains around 3,200 USD due to pressure from the broader market. This improvement could drive the recovery of the Ethereum ecosystem by 2026.
