Ethereum Gas Prices Hit Record Low Amid Price Drop

Gradual Decline in Gas Prices

Ethereum has recently experienced a significant drop in its daily mean gas price, an indicator of transaction fees on the network. This decline has reached an all-time low of 2.9 Gwei, showcasing a 25% price drop over the past month. While this is favorable for users who benefit from lower transaction costs, it raises broader concerns for Ethereum’s future, especially as more activity shifts to Layer 2 networks like Arbitrum and Base.