Ethereum’s average and median transaction fee slip, lowest in six months

The deal count for the Ethereum network has been up to numbers last seen in early 2019, which is rather fascinating. Blockchair information shows that Ethereums deal count dropped to 14,574,808 on February 1 from 36,851,128– an astonishing 60.44% decrease in one month.

The mean deal fee saw an 81.02% decrease in cost from $29.88 in January. The median deal charge at ETH was $6.26 in September, the least expensive month of the past 6 months.

It is the first time that Ethereums transaction count has seen such a drastic drop in simply 30 days. Vitalik Buterin, Ethereums co-founder, proposed a new limit for the total transaction calldata in a single block in November 2021 to decrease the total deal cost gas expense on the ETH network.

Blockchair data shows that the average transaction expense for ETH was $53.03 in January. It was $70.83 at its greatest in May 2021. The following chart reveals that the typical transaction cost saw a drop of practically 73.3% in a matter of months.

The infamous deal fees for Ethereum (ETH) went through a stage of decrease beginning Jan. 10, when they reached the most affordable average and typical charges of $12.17 and $5.67, respectively– the least expensive since September 2021.

Related: Individual ETH miner strikes it rich with $540K block bonus

A 2Miners Solo swimming pool ETH miner confirmed a block and was granted a reward of around $540,000.

Cointelegraph reported that the miner received 168 ETH in benefit for effectively mining the block. This is even more than the typical per-block reward of 4 ETH.
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