Krutika Adani
Ethereum gas prices fell to 1 Gwei for the third consecutive day on 24 June due to the Dencun Upgrade in Ethereum, implemented on 13 March this year.
Low gas prices mean less network congestion, which results in faster and cheaper transactions.
In Ethereum, gas comprises a minimum base fee plus an optional priority fee.
Low gas prices benefit retail Ethereum users and indirectly benefit Layer-2 solutions, Dapps, and DeFi users.