The average cost to execute transactions on the Ethereum network has declined to levels not seen in almost eight years.

Recent metrics

According to Glassnode, the 7-day moving average of total fees reached a level last observed in May 2017. The indicator measures aggregated gas costs across the network and smooths daily volatility.

Lower activity in certain decentralized finance segments and reduced demand for complex smart-contract interactions contributed to the drop in fees. Network upgrades and periodic changes in user behavior also factor into short-term fee dynamics.

Context and consequences

For users, reduced fees mean cheaper transactions and lower costs for interacting with wallets and applications. For validators and infrastructure providers, prolonged compression of fees may affect fee-derived revenue streams, depending on broader on-chain activity.

Observers note that fee levels historically fluctuate with demand for block space and major protocol events. Monitoring on-chain metrics and exchange flows will clarify whether the current low-fee environment persists or reverses as activity changes.