Gas On Empty: Ethereum Fees Fall To 2019 Levels—Details
Summary
Ethereum transaction costs have dropped to approximately $0.168, the lowest in five years, due to reduced network activity amid economic concerns. Users are hesitant to engage in trading, waiting for clarity on global economic issues following US tariffs announced by President Trump. Despite low fees often signaling potential price rebounds, many traders remain sidelined. Ethereum's development continues, with the Pectra upgrade set to launch on May 7, enhancing layer-2 blob capacity, reducing fees, and allowing stablecoin payments. Long-term holders are selling their positions in the $1,500 to $1,700 range, creating mixed market signals. Ethereum's price has decreased over 11% in two weeks, currently trading just below $1,600.
