Ethereum Fees Plummet to 5-Year Low Amidst Quiet Network Activity

Ethereum network transaction fees have reached their lowest point in five years as activity on the blockchain remains subdued. According to onchain analytics platform Santiment, costs now hover around $0.168 per transaction. This drop coincides with a decrease in Ether (ETH) transactions and smart contract interactions, attributed by Santiment marketing director Brian Quinlivan to lower demand and resulting price reductions.