In 2022, Ethereum transaction fees (gas) experienced a significant and sustained drop, reaching their lowest levels in years. Contrary to popular belief, Why the Merge Didn't Lower Fees The Merge was a consensus change. It replaced miners with validators to secure the network.
The frenetic "gas wars" caused by high-profile NFT drops cooled down as the market matured. In 2022, Ethereum transaction fees (gas) experienced a
Lower demand for decentralized exchanges (DEXs) and NFT minting meant less competition for block space. In 2022, Ethereum transaction fees (gas) experienced a
The 2022 "crypto winter" led to a massive drop in trading volume. In 2022, Ethereum transaction fees (gas) experienced a
Optimised smart contracts (like ERC-721A) reduced the gas required for minting.
Fees are determined by how many users are competing for limited block space.