Data: Ethereum Gas average price hits new low this year, falling back to the level of early May last year

PAData reported on July 5 that according to glassnode data, on July 4, the average price of Ethereum Gas had fallen to 16.18 Gwei, a new low for the year, a sharp drop of 95.67% from the highest average price of 373.74 Gwei in the year. In addition, the current average price level has fallen back to the level of early May 2020, when the DeFi ecosystem had not yet begun to explode.

According to real-time monitoring by Etherscan, as of around 13:00 today, the average price of Ethereum's gas has dropped to 11 Gwei. It only costs $1.62 in fees to complete an ERC 20 token transfer at the average settlement speed. Judging from the development trend of the average gas price, it is expected that the average price will continue to remain low in the short term.

Recently, DeFi, stablecoins and popular NFT projects are the main participants in Ethereum on-chain transactions. According to Etherscan statistics, in the past 24 hours, Uniswap v2 generated about $419,300 in fees, accounting for about 14.33% of the total. Secondly, Tether and Uniswap v3 also generated more than $100,000 in fees. In addition, other applications that generate more fees include Axie Infinity, Metamask, OpenSea and 1inch.