Ethereum mainnet gas fees have dropped to their lowest level in history, averaging just $0.15 per transaction as the network's Dencun upgrade continues to push activity to Layer 2 networks.

The Numbers

Average gas fees fell 95% from their 2024 levels. While some worry about reduced fee revenue for validators, ETH staking yields remain attractive at 4.2% APY due to tip-based earnings from MEV.

Impact

Lower mainnet fees are making Ethereum accessible for smaller transactions again, while the bulk of high-frequency activity continues on L2s where fees are under $0.01.