Ethereum Gas Fees Plummet to All-Time Low Amid Weak Network Demand

Ethereum gas fees have reached an all-time low due to minimal network congestion and user demand.

The ETHGas price, which reflects Ethereum network gas fees, dropped over 10% in 24 hours to reach 0.042 GWEI.

This decline coincided with a 49% drop in daily trading volume to about $20 million, driven by both retail and institutional selling on various exchanges.

Despite ongoing Ethereum upgrades, low gas fees reduced the token's utility and speculative appeal.