Transaction Fees (Gas) by Chain - YTD
October 3rd, 2024
TRANSACTION FEES (GAS) BY CHAIN | YTD
During the first 3 quarters of 2024, the average cost per transaction was $ 0.67 across the 7 x EVM chains.
Fantom & Polygon were the most cost-effective chains to transact on by a factor of 98% relative to the EVM average at $ 0.67.
On the opposite end of the spectrum, Ethereum was the least cost-effective chain to use with an average cost of $ 6.03 per transaction (8x the EVM average).
During the market top in March/April, the average transaction cost on Ethereum was $ 15. Whilst this cost may be unattainable to most retail users, it doesn't appear to have impeded transaction volume.
During September the average Ethereum transaction cost was $ 3.04 as a result of the Dencun hard fork and generally depressed ETH prices, but may still be a prohibitive factor in countries with low financial affluence, considering that the average transaction cost on other EVM's was about 60x cheaper at $ 0.05.
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