Ethereum Gas Fees Plummet by 95% Following Dencun Upgrade

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Cointime2025/03/13 13:45

By:Cointime

The average Ethereum gas fee has decreased by 95% in the year following the Dencun upgrade, a significant improvement for Ethereum's network. The Dencun upgrade, implemented on March 13, 2024, combined the Cancun upgrade on the execution layer with the Deneb upgrade on the consensus layer, along with introducing nine Ethereum Improvement Proposals (EIPs). The main objective was to improve Ethereum's scalability and lower transaction costs for layer-2 networks. Data from YCharts shows that Ethereum's average gas fee dropped from 72 gwei in 2024 to 2.7 gwei as of March 12, 2025. Despite the significant decrease in gas fees, the price of Ether (ETH) has fallen by 53% since the Dencun upgrade, with ETH trading at around $1,891 as of March 13, 2025, compared to over $4,070 during the upgrade in March 2024. The upcoming Pectra upgrade for Ethereum faced some challenges during its final testnet, Sepolia, with error messages and empty blocks being mined. Despite these issues, the development team has managed to stabilize the testnet and process transactions successfully. Dominik Harz, co-founder of hybrid layer-2 Build on Bitcoin (BOB), expressed concerns about Ethereum's recent underperformance and the need for a more sustainable and secure frontier for DeFi.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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