While Ethereum’s network activity continues to rise with daily transactions reaching 1.6 million on Tuesday, fees remain incredibly low, signaling a more stable and scalable infrastructure for advanced real-world applications. Gas fees hover near pennies at just 0.16 gwei (roughly $0.01 per transaction). Token swaps see slightly higher fees at $0.15, while non-fungible token (NFT) sales have fees of $0.27, according to blockchain data aggregator Milkroad. This contrasts sharply with past periods of high network activity that saw fees skyrocket, a key criticism of Ethereum in previous cycles. 1-month chart of Ethereum gas fees. Source: milkroad.com/ethereum. This marked a near one-month high last seen at the beginning of October before a record $19 billion liquidation event. Ethereum’s active addresses also rose to similar highs, peaking at a monthly high of 695,872 on Saturday, according to crypto intelligence platform Nansen. Ethereum’s historically low gas fees follow upgrades like Dencun and Pectra that have been designed to cut costs and increase throughput. The Pectra upgrade, deployed in May, doubled the blob capacity of layer-2 (L2) networks, leading to a 50% reduction in transaction fees on L2s. This upgraded infrastructure has also helped offload more transactions from the mainnet to further decrease costs. Previously launched Dencun has made average Ethereum transaction fees cheaper by 95% a year after deployment on March 13, 2024, as reported by Cointelegraph.