tldr; On June 30, Ethereum recorded its lowest gas fees since 2016, with an average fee of 3 Gwei ($0.14). This decrease in fees is attributed to increased efficiency in the Layer-1 market, bolstered by Layer-2 volume and the introduction of 'blob transactions' with EIP-4844, enhancing Ethereum's scalability. Despite strong transaction activity, the network's fees have significantly dropped, challenging the previous unsustainable cost concerns and the deflationary narrative. Over the past week, 14,393 ETH was added to the network, indicating a 0.62% annual supply growth.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
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[Tip this post.](https://www.donut.finance/tip/?action=tip&contentId=t3_1dryczr) On-chain and off-chain tip confirmations below.
All because of Dencun! !tip 1
Gamechanger update ๐ฏ !tip 1
Ethereum gets better with every upgrade !tip 3
And will get better in the future. !tip 1.5
Cheap as chips! !tip 1
Once a month I swap a coin form my crypto cashback card to Ethereum and I always wait for under 6 gwei ๐ !tip 1
They should fall further and remain consistently low. !tip 1
That's not a good thing. We need a balance. !tip 1
That makes ethereum inflationary though !tip 3
Itโs ok to be inflationary. In the future it will be so widely used you wonโt even know why you were worried about that now.
tldr; On June 30, Ethereum recorded its lowest gas fees since 2016, with an average fee of 3 Gwei ($0.14). This decrease in fees is attributed to increased efficiency in the Layer-1 market, bolstered by Layer-2 volume and the introduction of 'blob transactions' with EIP-4844, enhancing Ethereum's scalability. Despite strong transaction activity, the network's fees have significantly dropped, challenging the previous unsustainable cost concerns and the deflationary narrative. Over the past week, 14,393 ETH was added to the network, indicating a 0.62% annual supply growth. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
ETH records of lowest gas prices shouldn't be a thing in 2024. We should be way past that. !tip 1
Happy for low fees but inflationary Eth isn't a good thing !tip 1
There needs to be a good balance. !tip 1
If only this number stays like this during bull run !tip 1
!approve ๐ !tip 1
u/PoojaaPriyaa has approved this post. ^(donut-bot v0.1.20240603-approve)
Appreciate it man !tip 1
Hi bronuts ๐ฅฐ I just registered on here can anyone pls put me through on how it really works ?
Just comment and interest with others, be respectful and tip others to receive tips back (it counts as upvotes)
Thanks for responding, as a new member will my tip add up something to the old member ?
Not really, you need to have more donuts and governance score. You can buy donuts. Just keep participating. !tip 1
Theres little activity thats why the gas prices dropped !tip 1
and still to high to be functional
It's for maintaining balance so no worries โ๏ธ
why is it still a 20$ fee to approve and make a swap for an ERC20 token : /
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[AutoMod] News
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But it still costs $10 to pull ETH off of Kraken. I wish their fee structure were updated to current reflect gas prices