NFT EveningNFT Evening

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    CyberBrokers NFT: Everything To Know

    June 27, 2022

    Gucci x SuperRare Partnership: What You Should Know

    June 27, 2022

    Rolling Stone Launches 2nd NFT Collaboration With Yuga Labs’ BAYC

    June 27, 2022
    Facebook Twitter Instagram Reddit
    NFT Evening NFT Evening
    • Home
    • News
    • Crypto Art
    • Collectibles
    • Blockchain games
    • Interviews
    • Guides
    • NFT Calendar
    • NFT Conferences
    NFT EveningNFT Evening
    News

    Eth Gas Fees Cheaper Than Ever, Dipping Below $3 Per NFT Transfer

    By Reethu RaviMay 30, 2022Updated:June 6, 20222 Mins Read
    Share
    Twitter WhatsApp Reddit Email Facebook LinkedIn

    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. 

    A purple Eth token on a slab with NFT written on it
    Ethereum gas fees are cheaper than ever! Credit: Freepik

    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?

    To understand why ETH gas fees are cheaper, let’s first discuss what exactly gas fees are. In a nutshell, these are the fees we pay to Ethereum miners to validate transactions on the network. As the network activity soars, so do the transaction fees. And vice versa—which is likely what is happening now. 

    A recent report by the market intelligence firm, Santiment suggests the cheaper gas fees are a result of the decline in interest in the Ethereum network. 

    “Ethereum fees are so low last days,” the report wrote. “We could even notice they’ve been that low before previous bottoms…Low fees mean very little activity, no one is interested to do anything.”

    Currently, Ethereum users are eagerly waiting for the merge. This will further lower ETH gas fees and minimise its environmental impacts as well. 


    Are you tired of missing important NFT drops?

    Check out our NFT Calendar!

    Receive the biggest NFT news of the day & recommendations in our Daily newsletter. 

    • All of our news is being sent daily on Telegram
    • We summarize the biggest news daily on Twitter & Instagram 
    • Learn with video tutorials and subscribe to our Youtube Channel 

     


    All investment/financial opinions expressed by NFTevening.com are not recommendations.

    This article is educational material.

    As always, make your own research prior to making any kind of investment.

    Ethereum gas
    Share. Facebook Twitter Pinterest LinkedIn Email Reddit WhatsApp
    Reethu Ravi
    • Twitter
    • LinkedIn

    Reethu Ravi is a journalist based in India, covering environment, sustainability, tech and innovation. When not found between the pages of a book, she can be seen catching up on the latest developments in the tech world. A naval architect-turned journalist, she loves bringing stories of change and innovation to the limelight.

    More great NFT Evening content:

    Gucci x SuperRare Partnership: What You Should Know

    June 27, 2022 News

    Rolling Stone Launches 2nd NFT Collaboration With Yuga Labs’ BAYC

    June 27, 2022 News

    Bentley Announces Its NFT Debut

    June 27, 2022 News

    X2Y2 NFT Marketplace Delists & Relists Ryder Ripps’ NFT Collection

    June 27, 2022 News
    Latests NFT News

    CyberBrokers NFT: Everything To Know

    June 27, 2022

    Gucci x SuperRare Partnership: What You Should Know

    June 27, 2022

    Rolling Stone Launches 2nd NFT Collaboration With Yuga Labs’ BAYC

    June 27, 2022

    DeSci: What Is It and Why Should Anyone Care?

    June 27, 2022



    • Follow @NFTevening


    By signing up, you agree to the our terms and our Privacy Policy agreement

    NFT evening is the biggest website for NFT news. We are dedicated to supporting mainstream NFT adoption by making content fun & accessible. Learn about NFT collectibles, NFT art and the best blockchain games that even let you earn free crypto! Whether you want to invest in NFTs, create NFTs or simply collect them, NFTevening is the first stop for all the NFT news you need!

    Facebook Twitter Instagram YouTube
    Article Categories
    • Blockchain games
    • Collectibles
    • Crypto Art
    • Guides
    • Interviews
    • Metaverse
    • News
    • Sponsored Content
    NFT Calendar
    • Today’s NFT Drops
    • Upcoming NFT Drops
    • Solana NFT Drops
    • NFT Calendar
    • NFT Calendar : Add Your NFT Event
    Get In Touch
    • Advertise (Media Kit)
    • Collaboration and Press Releases
    • Job Opportunities
    • About Us
    • Contact Us
    NFT Beginners Guides
    • How to Sell NFT Art
    • How to Create NFT Art
    • How to Display NFT Art
    • How To Make Passive Income With NFTs
    • Best Crypto Wallet
    • Best NFT Coins
    • Best NFT Rarity Tools
    • What is a DAO ?
    • What Are Crypto Gas Fees ?

    Type above and press Enter to search. Press Esc to cancel.