ETH Fees Drop to Level Unseen Since 2022

You read that right. Ethereum had just dropped to insanely low fees; meaning that it is now super duper cheap at a mere 0.2$ for a transaction.

Ethereum's daily fees paid for transactions hit an eight-month low after it plunged to 1,719 ETH approximately $2.1 million on Aug 27, this was measured for the day.

This is, ofcourse, very, very bad news for anyone that stakes ethereum. This is good for adoption and user gain since more users are able to buy into ethereum and the ethereum ecosystem due to the fact that they're paying pretty low fees instead of half their transaction in fees...flashback to when a user unknowingly paid 130,000$ in ethereum fees on a 300,000$ transaction.... imagine the horror they'd have experienced after finding out what had just happened.


Comparing this to the bitcoin total daily fees for transactions, it could be seen that ethereum is noticably higher for their respective size. (1/3rd the size of btc.)


To end this analysis, we've got to take a look at the following: 



Concluding with all of the information above we're able to clearly see that the fees day by day to get lower over time, especially when compared to last year where ethereum had been skyrocketing. Somehow, more transactions are made when the price skyrockets. It doesn't really make much sense to me as I'd expect transactions to go up when the price is down as more people would want to send things around at a lower price when compared to a higher price - it'd also likely depend on whether they're buying/selling or simply purchasing something. It's always best to purchase things with crypto when the price is high as you're getting somewhat of a discount is usually how I think about it. (I buy 100$ of ethereum for 100$....several weeks later it's now at 200$...i spend 100$ out the remaining 100$...i just got 100$ of free product and so on.. This is how I see it for some reason. I don't like spending it though, that was just an example.)


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