Ethereum Gas Prices Crash to Record Low of 1 Gwei

Krutika Adani

Gas Fee Falls to 1 Gwei for Third Consecutive Day

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.

Why Is This Good?

Low gas prices mean less network congestion, which results in faster and cheaper transactions.

How Is Gas Measured?

In Ethereum, gas comprises a minimum base fee plus an optional priority fee.

Benefits

Low gas prices benefit retail Ethereum users and indirectly benefit Layer-2 solutions, Dapps, and DeFi users.