Ethereum Is Getting Cheaper to Use, Even Before the Merge #togrp7
Ethereum fees are at their lowest level in two years. This has happened ahead of a much-anticipated event known as the Merge, which is widely seen to be driving up the price of its cryptocurrency, ether (ETH). The average cost for a transaction is under 12.5 gwei, a unit of account that represents a fraction of an ETH used to measure the gas (or transaction fees) needed to run Ethereum
This is good news for Ethereum users, who have long and rightfully complained about the network’s fees. However, there are fewer users around to benefit. Costs are down because demand is, too. Despite declining use, Ethereum itself is increasingly seen as a bullish bet. Developers have formalized a timeline to transition the network to proof-of-stake (PoS) next month, which will radically change its cost structure – making it theoretically more efficient and cheaper to use.
