If you have been planning to buy Ethereum NFTs, then this is likely a good time, at least in terms of the gas fees involved. ETH gas fees have been dropping significantly in recent weeks, dipping as low as under $3. Let’s take a closer look at the current ETH gas fees and why they are becoming cheaper.
Ethereum Gas Fees are Dipping
As of 12:00 pm on Sunday, ETH gas fees dropped to $2.96 per transaction. Reportedly, this is the lowest it has been in over ten months. A similar price drop was seen last year in July when the crypto market crashed.
Furthermore, the median ETH gas prices are much cheaper. A single median-sized Ethereum transaction now costs as low as $1.56. To put things in perspective, on March 8 this year, the figure was $3.73 per transfer.
As a matter of fact, Ethereum gas fees have been dropping in recent months. In March as well, the values dropped significantly.
Why Are ETH Gas Fees Cheaper?
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