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Ethereum’s Post-Merge Transfer Fees Remain Low, Since Mid-May High-Priority ETH Fees Are 93% Cheaper – Bitcoin News


After Ethereum switched from proof of work (PoW) to proof of stake (PoS) on September 15, transaction fees of the blockchain network were much lower than they were 10 days before Consolidation. About 4 months ago on May 13, 2022 a high priority ether transaction could cost 68 gwei or $2.97 per transaction and today $0.18 high priority ether transaction 93% cheaper.

Ethereum Fees Still Low After Consolidation

Transaction costs on the Ethereum network are cheaper after the merge, as etherscan.io’s gas tracker says a high-priority transaction on September 17, 2022, is approx. 8 gwei or $0.18 each transfer. 12 days ago on September 5 high priority ETH transfer is 14 gwei or $0.47 each transaction.

Fee figures from etherscan.io show that today ETH transaction fees are 61% cheaper than 12 days ago. Furthermore, Ethereum’s recent change from PoW to PoS has also caused some fee aggregation web portals such as bitinfocharts.com to publish false charge data.

Ethereum Post-Consolidation Transfer Fees Still Low, Since Mid-May High Priority ETH Fees Will Be 93% Cheaper
Etherscan.io’s Ethereum gas tracker on September 17, 2022.

For $0.5888 per transfer, data from ycharts.com shows that the average ethereum (ETH) fees have also decreased since the Consolidation took place. Indicators show average transaction fees on ETH on September 14th it was $0.6293 per transaction and on Consolidation day the fee increased to $0.9812 per transaction.

Ethereum gas fees are also 93% lower than they were four months ago on May 13, 2022. Ycharts.com statistics show that on May 13, the average fee was $1.37 and down 57, 66% of the current average fee of $0.58 per transfer.

Data from archive.org pointed out that etherscan.io’s gas tracker also showed much higher ether fees than 127 days ago in mid-May. At the time, a high-priority transaction was 68 gwei or $2.97 per transfer to simply send ethereum, compared to today’s $0.18 high priority transfers.

Today, gas tracker etherscan.io shows an Opensea sale could cost $0.61, and four months ago it would have cost $28.58. A Uniswap decentralized swap (dex) will cost $1.58 on September 17th, but on May 13th it is around $26.07.

Send ERC20 tokens like tether (USDT) or usd coin (USDC) is also cheaper today at $0.46 per transaction. But 127 days ago, it would have cost users around $7.65 per transaction to deposit an ERC20-based coin.

Like Bitcoin.com News report above many occasions in 2022, Ethereum’s data fees have been steadily decreasing since mid-May. Post-Consolidation data says onchain ETH Fees continue to remain low.

Cards in this story

Bitinfocharts.com, data, swap dex, ERC20 token, Switch ERC20, ETH, ETH fee, ether, Ethereum, Ethereum Fees, etherscan, etherscan.io, Gas, Gas tracking, L1, Second grade, Class-One, Consolidation fee, data, Onchain, Scaling up, September 2022, Statistics, convert, Transaction, Transaction fee, transfer, Transfer fee

What do you think of the post-Consolidation stats showing ether fees continuing to stay low? Let us know your thoughts on this topic in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a fintech journalist living in Florida. Redman has been an active member of the crypto community since 2011. He has a passion for Bitcoin, open source and decentralized applications. Since September 2015, Redman has written over 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




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