Ethereum’s average and median transaction fee slip, lowest in six months

Ethereum’s average group action fees are borne by virtually 73.3% simply at intervals a month — down to $14.17 from $53.03.

 NEWS

The ill-famed group action fees of the Ethereum (ETH) system underwent a decremental part from the Gregorian calendar month. ten to record the bottom average and median fees of $14.17 and $5.67 — the lowest since September 2021.  Data from Blockchain shows that the common group action fee of ETH in January was $53.03, which at its peak was $70.83 back in maybe 2021. Simply at intervals a month, the common fees saw virtually 73.3% decline as proved by the subsequent chart.

Additionally, the resultant median group action fee conjointly witnessed an associate 81.02% drop from January’s $29.88. Within the last six months, ETH’s median group action fee was seen lowest in September at $6.26. Interestingly enough, the group action count of the Ethereum network has conjointly returned down to numbers that were last seen back in early 2019. Blockchain information shows that on February 1, Ethereum’s group action count went all the way down to 14,574,808 from 36,851,128 — a 60.44% call in only one month.

This is the primary time in Ethereum history that the group action count saw such an enormous drop at intervals of thirty days. In November 2021, Ethereum co-founder Vitalik Buterin projected a brand new limit on the entire group action data during a block to decrease the group action call data gas value over the ETH network.

Related: Individual ETH jack hits jackpot with $540K block reward. 

An ETH jack operational on 2 Miners: Solo pool validated a block on their own and received a gift valued at concerning $540,000. As Cointelegraph reportable, the jack earned 168 ETH for with success mining the block, which immensely outstrips the per-block average reward of concerning four ETH.