Ethereum Gas Fees Reach Historic Low: Transactions Drop to Just 1 Gwei as L2 Activity Surges

TL;DR The average gas price on Ethereum has dropped to 1.9 gwei, the lowest level in five years. Low-priority transactions now cost around 1 gwei, a 98% drop from the yearly high. Activity on Layer 2 networks outpaces that on the main chain, increasing the supply of ETH. The recent drop in Ethereum gas fees ... source: https://crypto-economy.com/ethereum-gas-fees-reach-historic-low-transactions-drop-to-just-1-gwei-as-l2-activity-surges/