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The fee of Ethereum gas is currently 62% cheaper than last month.

Transaction fees on the Ethereum network have been cut by more than half the rate they were on that day since November 9, 2021, or 46 days ago. The average charge to move ethereum was $62.84 per transaction at the time, and it has since plummeted 62.85% to $23.34 per transaction.

Ethereum transaction fees have been reduced by more than 62 percent, from $62 to $23 per transaction.

It was much more expensive to transfer ethereum (ETH) onchain just over a month ago, let alone move an ERC20 token, swap tokens, or interact with a smart contract. The average cost spent on the Ethereum network on December 25 was $22.80, or 0.0056 ether per transaction, according to metrics.

It was $23.34 per transaction the day before, which is 62.85% less than the fees recorded on November 9. A 62 percent cost reduction per data transmission is significant, and the median ether fee is considerably lower. Statistics from  bitinfocharts.com indicate that, the median ether fee was $34.28 per transaction on November 9 and is now 0.0032 ETH or $12.99.

The decrease in median fees size was also more than 62% less than the measurements reported 46 days ago for median ether fees. The median-sized fee recorded by l2fees.info statistics shows that data transfer fees are even lower. Transacting with ethereum costs $6.78 per transaction on Saturday, whereas moving a token costs $15.49 per transfer.

Layer 2 Networks Still Move Ether for Less Money

Swapping a token will cost the user $33.89 per transaction, according to today's l2fees.info statistics. Of course, layer two (L2) transfer fees are substantially lower, and Loopring now has the lowest charge rate at $0.16 per ether transfer. Polygon Hermez ($0.25), Zksync ($0.33), Arbitrum One ($1.87), and Optimism ($2.00) follow Loopring. A Zksync user will pay $0.81, a Loopring user $1.02, an Optimism user $2.82, and an Arbitrum user $3.22 per transfer to swap a token or interact with an Ethereum-based smart contract.

In addition to Ethereum network fees becoming less expensive, Bitcoin (BTC) network fees have also become less expensive. According to data from bitinfocharts.com, BTC costs have ranged about $1.50 to $5.00 per transaction on average since the end of July.

The average bitcoin (BTC) cost for Saturday, December 25, 2021 is 0.000046 BTC, which is around $2.36 per transaction or 0.0000001 BTC per byte. BTC fees peaked at $62.77 on April 21, 2021, indicating that they are now 96.24 percent cheaper than they were on that day.