Over the past month, commissions on the Ethereum network have decreased by 90% – if in mid-May the commission for a transaction reached $ 45, now users pay an average of $ 4.5.
There are several reasons for this sharp drop in fees. Firstly, along with the market decline, the number of transactions has noticeably decreased. Decentralized finance (DeFi) activity and collectible token transfers (NFT) have also declined markedly. The total number of transactions per day fell from 1.65 million to 1.2 million.
In addition, the rise in popularity of the second-tier Polygon solution contributed to the decrease in commissions. If in May the number of transactions processed by the Polygon network did not exceed 2 million per day, now the figure reaches 7.5 million. This is five times more than in the main network of Ethereum.
Finally, the number of transactions was influenced by the increase in flashbot transactions, a solution that allows traders to directly transfer transactions to miners. This reduces the number of “junk” transactions on the Ethereum network, as trading bots generate such transactions less often.
Earlier it was reported that the volume of transactions on decentralized exchanges has dropped markedly. At the same time, the rates of tokens of the most popular projects fell.
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