The cost of transactions in the Ethereum ecosystem has decreased by 60 times compared to March 2024, reaching a historic low since February 2020. However, activity on the blockchain remains stable — around 1.2 million daily transactions.
This is reported by Finway
Record Low Transaction Fees
Transaction fees on the Ethereum network have reached their lowest levels in recent years. The seven-day moving average (7DMA) shows daily transaction fees totaling less than $500,000, while the peak in March 2024 was $30 million. This indicates significant changes in the network’s economy.
“Transaction fees according to the 7DMA”
The decrease in fee costs has been influenced by several updates, including the implementation of EIP-4844, which introduced BLOB-type transactions — a more economical way to store data for L2 solutions. The Base network has become popular among users due to substantial cost reductions while maintaining Ethereum’s security.
Prospects and Challenges for the Network
According to Glassnode data, total transaction fees amounted to 317.1 ETH as of April 4, 2025. The previous low was recorded on February 22, 2020 — 306.2 ETH. The reduction in fees means increased accessibility for users, opening up new opportunities for small DeFi operations and daily transfers. However, for validators, this may reduce motivation as the network increasingly relies on Ethereum issuance rather than revenue from fees.
It is worth noting that record lows are also observed in the number of assets burned due to transaction fees, a decrease in the number of new addresses on the network, and a reduction in the available supply of Ethereum on centralized exchanges. However, on May 7, 2025, an update called Pectra is scheduled on the blockchain, aimed at enhancing user experience and operational efficiency of Ethereum.