Despite a surge in Ethereum blockchain activity, gas fees remain remarkably low, suggesting a more robust and scalable network capable of supporting advanced real-world applications. With average transaction fees currently at a mere 0.16 gwei, or around $0.01 per transaction, this contrasts sharply with previous periods of high activity where demand often drove fees to unsustainable levels. This development indicates Ethereum is reaching maturity in addressing past criticisms. 1.6 million daily transactions, the highest monthly level seen since early October, mark a resurgence in network engagement following a recent $19 billion liquidation event. Active addresses have also climbed to 695,872, according to crypto intelligence platform Nansen, indicating renewed user activity. The current price-friendly environment is attributed to two significant upgrades, Dencun and Pectra, implemented to reduce transaction costs and enhance throughput. The Pectra upgrade, deployed in May, has significantly boosted layer-2 (L2) network capacity by doubling its blob capacity, thereby cutting transaction fees on L2s by approximately 50%. This reduction in fees further facilitates offloading transactions from the mainnet, ultimately contributing to lower costs. Dencun’s contribution to reducing L2 transaction fees and shifting a larger volume of transactions to L2 is also noteworthy. This has led to an average transaction fee decrease of 95% year-over-year since its deployment in March 2024. The ongoing improvements in Ethereum’s efficiency and scalability signal a promising future for broader adoption and complex blockchain use cases.