Bitcoin and Ethereum transaction fees drop to the lowest level in 7 months

ChainCatcher news, according to Cointelegraph, on June 23, the average Bitcoin transaction fee reached $1.93 per transaction, the lowest level since October 2023.

In addition, ETH Gas fees are nearing historical lows, due to activity shifting from Ethereum to its Layer 2 network after the Dencun upgrade in March. Since the Dencun upgrade, the average gas price on Ethereum has decreased by about 92%. According to a report from Layer2 Insider, last week L2 networks generated $950,000 in revenue.