The infamous transaction fees of the (ETH) ecosystem underwent a decremental phase from Jan. 10 to record the lowest average and median fees of $14.17 and $5.67 — lowest since September 2021.
Data from Blockchair shows that the average transaction fee of ETH in January was $53.03, which at its peak was $70.83 back in May 2021. Just within a month, the average fees saw an almost 73.3% decline as evidenced by the following chart.
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Read More: Ethereum’s average and median transaction fee slip, lowest in six