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Ethereum Gas Fees Drop to Record Low of 0.025 Gwei

Ethereum Gas Fees Drop to Record Low of 0.025 Gwei

Ethereum mainnet fees fell to $0.0017 per transfer, making Layer 2 transactions up to five times more expensive, according to latest on-chain data.

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Summary

Ethereum mainnet gas prices declined further to 0.031 Gwei on Dec. 5, lowering standard transfer fees to about $0.0017. This marks the first time that Layer 2 networks such as Base, Arbitrum, and Optimism have posted higher fees—between $0.0055 and $0.0079—making them 3–5 times more expensive than mainnet transfers.

Terms & Concepts
  • Gas (Ethereum transaction fee): The fee required to execute transactions or smart contracts on the Ethereum blockchain.
  • Gwei: A small denomination of Ether, equal to one billion wei, used to measure transaction fees.