Ethereum's single-day trading volume breaks records, with transaction fees dropping to 17 cents

【BitPush】Ethereum this week reached a new milestone—its daily transaction volume on the mainnet hit a record high of 2.2 million transactions, while the average transaction fee has dropped to just 17 cents. The story behind this number is quite shocking. Remember May 2022? At that time, each transaction cost over $200 in fees, which discouraged many users. Now, the cost is so much lower, mainly thanks to continuous network upgrades. Although usage has been steadily increasing, Ethereum has kept transaction fees tightly controlled through multiple rounds of optimization. Since October 10, fees have been on a downward trend. On that day, there was also a major liquidation event, causing the entire market to plunge, and fees soared to $8.48 at one point. But even so, compared to the once sky-high fees, it’s just a drop in the bucket. This fully demonstrates that Ethereum’s scalability efforts are taking effect, and network efficiency is continuously improving.