Ethereum Fees Drop 53% in 20 Days — Polygon Hermez, Loopring Offer Lowest L2 Fees – Altcoins Bitcoin News

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Ethereum Fees Drop 53% in 20 Days — Polygon Hermez, Loopring Offer Lowest L2 Fees

Ethereum’s average network fees have dropped to the lowest value in 30 days at 0.0096 ether or $24.64 per transaction. Median-sized ethereum fees are lower today as well, as fees are between $8.37 to $10.82 per transaction as ether fees haven’t been this low since January 1.

Onchain Ethereum Fees Drop, Current Bitcoin Fees 91% Cheaper Than Ethereum Fees

  • It’s cheaper today to send ethereum (ETH), as network fees are 0.0096 ETH or $24.64 on average to send the second leading crypto asset. On January 30, 2022, ethereum has a 24-hour price range of around $2,575 to $2,647 per unit.
Ethereum Fees Drop 53% in 20 Days — Polygon Hermez, Loopring Offer Lowest L2 Fees
The average-sized fee (ASF) on Ethereum on January 30, 2022, is $24.64 per transaction. Fee stats stem from bitinfocharts.com data.
  • Average-sized ETH fees haven’t been this low since January 1, 2022, when the average-sized fee (ASF) was $25.75 per transfer. Ethereum fees reached a high on January 10, at $52.46 per transaction and the current ASF today is 53.03% lower than the high.
  • Median-sized fees (MSF) on Ethereum are also lower today, as the MSF on ETH on January 10, is $29.92 per transfer. Statistics show MSF on Ethereum today are between $8.37 to $10.82 per transfer which is 63.83% lower than the MSF on Ethereum on January 10.
The median-sized fee (MSF) on Ethereum on January 30, 2022, is $10.82 per transfer. Fee stats stem from bitinfocharts.com data.
  • Ll2fees.info metrics show the MSF on Ethereum today is $8.37 to send ethereum, $19.14 to send tokens, and to swap tokens it costs $41.87. Polygon Hermez is the cheapest Layer two (L2) transfer fee today with $0.25 per transfer.
  • Loopring fees are $0.29, Zksync fees are $0.37 per transfer, Optimistic costs $1.75, Arbitrum transfers are $1.91, and Boba Network L2 fees cost $2.24 per transfer. To swap tokens Loopring will be $0.65 per swap, Zksync is $0.90, Optimistic is $2.58, Boba Network is around $2.94, and Arbitrum is $3.30 per transaction.
  • At 0.00000014 BTC per byte and 0.000054 BTC or $2.02 per BTC transaction, fees are 91.80% cheaper on the Bitcoin (BTC) blockchain.
  • The MSF on Bitcoin is 0.000014 BTC or $0.52 per transfer which is 95.19% cheaper than ETH’s MSF rates.
  • The ASF on Ethereum hasn’t been under $1 since mid-November 2020. MSF on Ethereum dipped under $1 per transfer at that time as well.
Tags in this story
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What do you think about ethereum fees being 53% lower than they were on January 10? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

Image Credits: Shutterstock, Pixabay, Wiki Commons, bitinfocharts.com,

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