Ethereum transaction fees enter "Zen mode", Uniswap coin exchanges below $20

The Ethereum blockchain reached a near seven-day low Gas Price of 40 GWEI on the 25th, with the average transfer cost of typical ERC-20 tokens being only $5.8, Uniswap token exchange costing $17.85, and adding liquidity on Uniswap requiring only $15.62.

Near seven-day low Gas Price:

Recent significant drop:

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Reasons for the Decrease in Gas Fee?

Ethereum developer Sassano believes that the possible reasons for the decrease in Gas Fee are:

1. Gas limit block size increased by 20%

2. Flashbots allow MEV extractors to bypass the mempool

For more details, please refer to: Understanding the little-known MEV crisis! How Flashbots repel arbitrage bots and reduce Ethereum usage costs

3. Layer 2 solutions and other blockchains are taking a share of Ethereum's network capacity

4. Market cooling leads to reduced on-chain activities

A few reasons why gas is cheaper lately:

– Gas limit (block size) was increased by 20%
– Flashbots is allowing MEV extractors to bypass the mempool
– Layer 2's (and other chains) are taking the load off layer 1
– Market is relatively quiet which naturally leads to less activity

— sassal.eth 🦇🔊🐼 (@sassal0x) April 25, 2021

What Can You Do During the Discount Period?

1. Exchange coins on Uniswap/SushiSwap
2. Add/withdraw liquidity on Uniswap/SushiSwap
3. Participate in liquidity mining
4. Use lending platforms like Maker, Compound
5. Apply for ENS
6. Buy and sell NFTs

There are many other things you can do on the blockchain during this opportunity, feel free to share with us!