Ethereum GWEI at 68? It is quite unusual to see Ethereum base Gwei above 60 nowadays. Although, max Gwei for a could technically still be above 1000. So, for the base Gwei, it’s quite high. Here, I noted a transaction on EtherScan where $5 USDC was transferred for which he paid $5.70 in gas fees.
I noticed that the institutional transactions and transactions for the DEFI Protocols were the ones that were still mostly processing at this GWEI. Ethereum truly needs scaling within the mainnet itself although several L2 scaling solutions are in their purpose.
Maybe ETH’s gas fees lower significantly in the future with upgrade and the introduction of EIP-4844 allowing shard blob transactions, which we will know anyway. This Dencun upgrade is supposed to go live later in 2024 only, so we will have to till then.
