Ethereum network fees dropped to a six-month low
This may be caused by a falling interest in the NFT
09.03.2022 - 13:15
569
1 min
0
What’s new? The analytical company Arcane Research has presented a report that says about declining fees on the Ethereum network. In the report, Arcane uses data from Coinometrics, which shows that the seven-day average of transaction fees on Ethereum is at its lowest level since August 2021. The figure has been falling precipitously since the second week of January.
What are the reasons for the decline? The decline in the fees may be due to a drop in interest in the NFT. Non-fungible tokens, which are issued in the form of digital art objects, appeared on the Ethereum blockchain. They became popular in 2021. This has led to an increase in the number of transactions on the network.
According to analysts, another reason can also be seen as competing networks Solana and Avalanche have wrested market share from Ethereum. They offer similar services to GameFi and NFT, with much lower fees and higher speeds.
Useful material?
Telegram 
Twitter Incidents
The company is linking the incident to a compromised private key on a service wallet, rather than a smart contract exploit
May 22, 2026
Incidents
Following the incident, the project temporarily halted trading operations and node activity.
May 15, 2026
Incidents
The user spent weeks unsuccessfully trying to guess the password until Claude helped find an old wallet backup file
May 14, 2026
Crypto regulations
Authorities are introducing mandatory registration for companies handling cross-border crypto transactions
May 8, 2026
Incidents
According to Blockaid, the attack may have been carried out by the same hacker behind the 1inch Fusion V1 exploit.
May 7, 2026
Incidents
The attacker gained administrative access and altered contracts to drain user funds
Apr 30, 2026
Cryptocurrency rates
-
Bitcoin
$63 213
BTC
-5.52%
-
Ethereum
$2 551.16
ETH
+3.56%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.19
XRP
-2.7%
-
Dogecoin
$0.090529
DOGE
-2.9%
-
TRON
$0.160134
TRX
-1.59%
-
Zcash
$620.3
ZEC
-2.77%
-
Cardano
$0.197148
ADA
-7.79%
-
Stellar XLM
$0.206712
XLM
-8.02%
-
Polkadot
$3.32
DOT
+5.27%