The cost of transactions in the Ethereum decreased by 60 times compared to last March, the significance of the historical minimum of February 2020 was the value, Analysts of The Block reported.

The seven -day sliding average (7DMA) indicates the amount of commissions from transactions in the amount of up to $ 500,000 per day – in contrast with a peak of $ 30 million in March last year.

The reduction in the value of the commissions was influenced by several updates, analysts explained. In particular, the EIP-4844 update adding transactions of the BLOB type (large data volumes) is a cheaper way to store data for L2 solutions.

Activity in the network remains at the level of 1.2 million transactions per day. For users, reducing commissions means an increase in accessibility, opening opportunities for small operations with decentralized finances.

However, for validators, this reduces the motivation, since the network is increasingly relied on the issue of the broadcast, and not on income from the commissions, the experts of The Block explained.

Earlier, representatives of the analytical platform Cryptoquant said that the main factor in the fall of ETH quotations in the last few weeks is to reduce activity in the Ethereum network.