Transaction volume data from Etherscan or similar blockchain explorers

Ethereum Sees Major Scaling with Lowest Gas Prices of 3 gwei and Surging Layer 2 Activity

Jun 22, 2024, 05:27 PM

Ethereum has experienced significant scaling improvements, marked by a notable decrease in gas prices and an increase in Layer 2 (L2) activity. The gas price on the Ethereum mainnet has dropped to as low as 1 gwei, with an average of 3 gwei ($0.15), the lowest in years. This reduction in gas fees comes as L2 activity reaches all-time highs. Additionally, the number of active Ethereum addresses has surged, with the largest spike in three months, totaling 617,170 active addresses. The overall number of distinct daily active addresses has grown from 350,000 in January 2021 to over 3 million in June 2024, indicating robust growth in the Ethereum network. Notably, the mainnet gas price of 2 gwei is unprecedented during the North American daytime.