{"id":21045,"date":"2025-02-11T10:55:42","date_gmt":"2025-02-11T08:55:42","guid":{"rendered":"https:\/\/forklog.com\/en\/ethereum-transaction-fees-drop-to-september-levels\/"},"modified":"2025-02-11T10:55:42","modified_gmt":"2025-02-11T08:55:42","slug":"ethereum-transaction-fees-drop-to-september-levels","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ethereum-transaction-fees-drop-to-september-levels\/","title":{"rendered":"Ethereum Transaction Fees Drop to September Levels"},"content":{"rendered":"

The daily volume of transaction fees generated in the network of the second-largest cryptocurrency by market capitalization has fallen to levels last seen in September 2024.<\/p>\n

<\/p>\n

In February, the figure dropped below $1 million for the first time in five months, reaching $731,472.<\/p>\n

\"Snimok-ekrana-2025-02-11-081933\"
Data: Token Terminal<\/a>.<\/figcaption><\/figure>\n

Similarly low values were observed last year from August 17 to September 8, and before that in November 2020. <\/p>\n

The chart below illustrates the stagnating transaction activity in the main network:<\/p>\n

\"ethereum-daily-transacti-1\"
Data: Etherscan<\/a>.<\/figcaption><\/figure>\n

Since April 2024, Ethereum’s supply has shown steady growth, ending the deflationary period that began after the activation of The Merge. Amid reduced on-chain activity, the supply of ether has already surpassed the levels of September 2022.<\/p>\n

\n
\"Snimok-ekrana-2025-02-11-090256\"
Data: Etherscan<\/a>.<\/figcaption><\/figure>\n
\"0194ef52-ce4c-771b-8261-135e6d5242f9\"
Data: Ultra Sound Money<\/a>.<\/figcaption><\/figure>\n<\/figure>\n

The Merge marked the complete abandonment of energy-intensive mining on the Proof-of-Work algorithm and the successful transition to Proof-of-Stake.<\/p>\n

In August 2021, the London hard fork was implemented. This upgrade included several Ethereum Improvement Proposals, the most significant being EIP-1559. It involves burning a portion of transaction fees depending on network load and reducing gas price volatility. With high on-chain network activity, the amount of “destroyed” ETH can exceed the number of newly issued coins, making the asset deflationary.<\/p>\n

What About L2?<\/h2>\n

Promoted by Vitalik Buterin<\/a>, the scaling strategy through L2 solutions has reduced the load on Ethereum and partially eliminated sharp gas price spikes. <\/p>\n

However, many developers express concerns about interoperability issues and, consequently, potential ecosystem fragmentation.<\/p>\n

Even after the Dencun update<\/a> and scalability improvements through a new transaction type for large binary data arrays (BLOB), activity is increasingly shifting to L2, weakening the base layer, analysts at JPMorgan claim.<\/p>\n

Against this backdrop, competitors like Solana, Tron, and Base continue to gain popularity.<\/p>\n

Back in a previous report, developer Justin Drake called Ethereum “ultra-sound money” as opposed to “obsolete” Bitcoin.<\/p>\n","protected":false},"excerpt":{"rendered":"

The daily volume of transaction fees generated in the network of the second-largest cryptocurrency by market capitalization has fallen to levels last seen in September 2024.<\/p>\n","protected":false},"author":1,"featured_media":21044,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1178,1227,46],"class_list":["post-21045","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-blockchain-fees","tag-cryptocurrency-transactions","tag-ethereum"],"aioseo_notices":[],"amp_enabled":true,"views":"40","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/21045","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=21045"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/21045\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/21044"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=21045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=21045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=21045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}