The transaction fees of Ethereum have fallen to near record lows, indicating a significant improvement in network scalability. The average gas fee is currently only about 0.16 gwei ( equivalent to $0.01 per transaction ), despite daily transaction volume rising to 1.6 million. The Pectra upgrade – which doubles Layer 2 capacity and cuts costs by nearly half – plays a key role in this improvement. Combined with the Dencun update, Ethereum processes transactions faster and more efficiently by shifting most of the activity off the mainnet.
However, Ethereum is still more expensive than competitors like Solana, where the gas fee is only about $0.00025 per transaction. Recently, the market reacted to the Fed cutting interest rates, causing ETH to fall 3% below $4,000. Despite the short-term weakness, experts predict that Ethereum will recover strongly by the end of the year, as November often brings a rising trend.
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