💸 What are the "gas fees" of Ethereum?
If you have ever used the Ethereum network, you have probably noticed that, at certain times, transaction fees can be quite high. These fees are known as gas fees.
🔍 Understanding gas fees
Gas is the unit that measures the computational effort required to execute operations on the Ethereum blockchain.
Each transaction or smart contract requires a certain amount of gas, and the total cost depends on the gas price at the time of the transaction.
📉 Recent variations in fees
On May 17, 2025, gas fees reached a historical low of $0.03 per transaction, making operations on the network significantly more accessible.
However, on May 23, 2025, the average fees increased to 4,234 Gwei, reflecting a rise in network activity.
🚀 Impact on the market
High fees can drive away users and developers, leading them to seek more economical alternatives.
Reductions in fees, like the one observed in May, can revitalize interest in the Ethereum network, attracting more users and projects.
🔄 Alternatives to Ethereum
Due to the variations in gas fees, many have been exploring other blockchains that offer faster and cheaper transactions, such as:
Solana (SOL)
Polygon (MATIC)
Avalanche (AVAX)
These networks have gained popularity for providing scalable solutions with reduced costs.