Assets, Ethereum

What Is the Current Gas Price on Ethereum?

As of July 21, 2019, the current gas price on Ethereum is $0.29 USD. This is down from the recent high of $0.33 USD on July 16th.

The gas price is a measure of how much work is required to process a transaction on the Ethereum network. The higher the gas price, the more incentive there is for miners to include your transaction in the next block.

The recent drop in gas prices can be attributed to a decrease in demand as the number of transactions on the Ethereum network has fallen over the past week. This is likely due to the end of the ICO boom, as many projects have now completed their token sales and no longer need to send as many transactions.

With fewer transactions being processed, there is less need for miners to include them in blocks, and so they are willing to accept lower gas prices.

The current gas price is still relatively high compared to historical levels. In December 2017, when the ICO boom was in full swing, the average gas price was just $0.21 USD.

However, it is still significantly lower than the all-time high of $3.60 USD that was reached in June 2017 when CryptoKitties caused a congestion issue on the Ethereum network.

The current gas prices are still relatively high compared to historical levels, but this is due to a decrease in demand as the number of transactions on the Ethereum network has fallen over the past week.

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