Ethereum transaction fees at a six-month low

After staying at elevated levels during the second half of 2021, Ethereum transaction fees started plummeting in January and are now at the lowest levels since August 2021.
Source: CoinMetrics

The chart shows the mean fee paid for a simple wallet-to-wallet Ethereum transaction.

The gas price determines Ethereum transaction fees. Each operation on Ethereum demands a certain amount of gas, which is the computational resource of the network.

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