Gas on the Ethereum chain dropped to 0.692Gwei, what happened behind it

The reasons for the decline of Gas on Ethereum chain to 0.692Gwei include: 1. Reduced transaction demand: Reduced transaction activity caused by changes in user behavior and macroeconomic impact; 2. Development of Layer 2 solutions: Cost reduction and performance improvement attract users to transfer to Layer 2 network; 3. Network technology upgrade: Dencun upgrade optimizes data processing and reduces Gas consumption.

Gas on the Ethereum chain has dropped to 0.692Gwei, mainly due to the following reasons:

• Reduced transaction demand:
  • Change in user behavior: The interest of investors and users in the market shifts in decentralized applications (DApps) and crypto asset trading on the Ethereum network. For example, other public chains such as Solana have attracted a large number of users due to the Meme coin boom, resulting in a decline in transaction popularity of the Ethereum network, insufficient demand for block space, and the Gas fee has been reduced.
  • Macroeconomic impact: Uncertainty in the overall financial market or the downturn in the cryptocurrency market has made investors more cautious and reduced trading activity on the Ethereum chain. For example, in March 2025, due to the impact of macro uncertainty, the crypto market continued to weaken, Ethereum prices fell, on-chain activity cooled significantly, and Gas fees also fell by 4.
• Layer 2 Solution Development:
  • Cost reduction: After the Dencun upgrade, the transaction costs of the Layer 2 network were significantly reduced, and the Gas fees were even reduced to almost zero. This has allowed a large number of users to transfer transactions from the Ethereum main network to the Layer 2 network, such as Arbitrum and Optimism, thereby reducing the transaction burden on the main network and reducing the Gas fees on the main network.
  • Performance improvement: The transaction speed of the Layer 2 network has advantages over the Ethereum main network, which can better meet users' needs for fast transactions. For example, Base handles 39 transactions per second, Arbitrum handles 17.28 transactions per second, while Ethereum's main network has only 12tps, which also prompts users to prefer to use the Layer 2 network, reducing the main network's Gas consumption.
• Network technology upgrade:
  • Dencun upgrade optimization: Dencun upgrade earlier this year introduced technologies such as "blobs", which optimized data storage and processing methods, improved network efficiency, reduced the amount of gas required to complete transactions, and thus reduced gas fees.

In addition, there may be some other factors, such as most of the current transactions on the Ethereum network are bridge activities, pledge operations or approved transactions. These operations are relatively simple and consume less gas, which to a certain extent also reduces the overall gas fee.

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