On August 28th, according to CryptoQuant data, the daily fee paid by users for transactions on Ethereum on August 27th was 1,719 ETH, which is the lowest point since December 26th of last year. Compared to the annual high of 16,720 ETH on May 5th, this is an 89% decrease. The decrease in the total amount of fees paid indicates a lower network usage, which may be due to the increasing popularity of L2 scaling solutions. This is a long-term positive development for Ethereum.
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Ethereum hit an 8-month low with just $2.8 million in transaction fees yesterday
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