Ethereum gas drops by half in a month

  • During December the cost of gas in Ethereum was reduced by almost half, going from transactions of $ 52.45 dollars on December 1 to $ 19.22 on December 26.
  • Last year, the standard value per transaction was under $ 5.

During the month of November and December, the cost of gas for Ethereum transactions showed a drop that brought its cost to $ 19.22 on December 26, threshold that had not touched since October 3

If we analyze the graph of BitInfoCharts it is possible to notice the change in value in the standard price per transaction. Ethereum reached $ 62.84 per transaction on November 9 and then began to decline.

The change in the price of gas was more evident on the second day of December, since it was on that date that a resounding decline was recorded. The fall continued to occur for the next ten days, since by December 12 figures were already reported below $ 23 dollars, and finally, on November 26, they were below $ 20 dollars.

In just 26 days of the last month of this 2021, the value of gas in Ethereum presented a drop of more than half.

Considering the median average cost of each transaction, on December 1 it was above $ 26, while on December 19 it was below $ 9. Cryptonomist.

ETH price

If we analyze the graph of the cost of Ethereum transactions with the value of the digital asset ETH, we might think that we realize that the cost of the transaction is related to the value of the digital asset since on November 9, day in the cost of the network transactions exceeded $ 62 dollars the price of ETH was around $ 4,850 dollars a unit.

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Fountain: CoinMarketCap.

However, for the days in which the transaction cost has been lower, the price of the asset has been different since in October when the cost of gas was located at $ 19.1 dollars, the price of ETH was located around $ 3, 450 USD, but by December 26 when the cost of ace was at $ 19.22, the price of ETH was above $ 4 thousand dollars.

It should be noted that on December 1, the price had risen $ 700 dollars in relation to October 23, reaching $ 4,700 dollars, for which it can be considered that The price was the main motivation for the ERC-20 and ETH token holders to be encouraged to make more transactions than normal, which allowed to increase the price of gas.

What is of interest to all digital asset enthusiasts is the fact that Last year, the standard value per transaction was under $ 5, in addition to the fact that the average was approximately a little above two dollars.

BTC vs ETH price comparison

In order to draw even more attention the change in the value of gas, if we analyze it with the prices of the so-called “digital gold”, since The average value per transaction in Bitcoin had a constant decrease throughout this year, since it went from $ 8 dollars to $ 2 dollars, registering an average of four dollars to only one dollar or less.

Therefore, if a year ago the price of transactions in the Ethereum blockchain was comparable to that of transactions in Bitcoin, today it is 10 times higher, despite the fact that so far in December it has presented a decrease .

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Ethereum gas drops by half in a month

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