Bitcoin and Ethereum users can finally breathe: transaction costs on the two main blockchains have dropped by more than 90 % compared to the previous year. A major change which reflects a calm of network activity, but also a significant improvement in operational efficiency.
In short
- Transaction costs on Bitcoin and Ethereum fell by more than 90 % compared to 2024.
- The average cost on Bitcoin increased from $ 16.16 to $ 0.91, with rapid transactions to only $ 0.35.
- The Gas Price on Ethereum is now less than 1 GWEI, with average costs of $ 0.31.
- Swaps, NFT sales or the use of bridges now only cost a few cents.
- A spectacular drop in costs that promotes Crypto adoption and makes blockchains more accessible.
Bitcoin and Ethereum costs reach their lowest level in one year
In April 2024, carrying out a Bitcoin transaction cost an average of 16.16 dollars. Today, the costs fell to only $ 0.913 per transaction, or 5.1 Satoshis per Virtual Byte. According to Mempool.Space, a simple accelerated BTC payment costs only approximately $ 0.35, while the Mempool's queue rose from 248,000 to only 21,118 transactions.
On the Ethereum network, the trend is even more marked. The average cost of a transaction dropped from $ 4.03 to $ 0.31, a drop of 92.36 %. THE Gas Price is now less than 1 GWEI, with priority transactions around 0.406 GWEI – less than a cent. For a simple transfer of ETH, confirmation takes barely 30 seconds.
The costs remain modest for more complex operations: $ 0.22 for a tokens swap, $ 0.37 for the sale of an NFT, and only $ 0.07 to use a bridge. As a comparison, in April 2024, these operations cost $ 20.73 and $ 35.03 respectively.
A period of lull conducive to adoption
This spectacular fall in costs on Bitcoin and Ethereum could encourage a new vague adoption, especially among consumer users and developers. Less congestion, reduced costs and quick confirmations: L1 blockchains again offer a fluid user experience, opening the way to a reintensification of the on-chain activity.
The drop in Bitcoin and Ethereum costs therefore marks a favorable turning point for crypto users. By making the transactions more accessible, this dynamic could revive activity on blockchains, encourage the massive adoption of the BTC and the ETH, and stimulate innovation in decentralized finance. A wind of optimism blows on the crypto ecosystem.
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