PANews reported on April 17 that according to Cointelegraph, according to the on-chain analysis platform Santiment, transaction costs on the Ethereum network have dropped to their lowest level in five years due to low activity on the blockchain. Brian Quinlivan, marketing director of Santiment, said that the Ethereum network fee is currently about $0.168 per transaction, and as the fee decreases, the number of people sending ETH and interacting with smart contracts has also decreased. When many people use Ethereum, users bid higher fees to get their transactions confirmed faster, which pushes up the average cost, and when the number of transactions decreases, users do not need to bid too high fees. Therefore, the average fee will drop. This is essentially a supply and demand system.

Quinlivan analyzed that from a trading perspective, low fees may hinder price rebounds; however, traders seem to be patiently waiting for the global economic uncertainty to pass before increasing the frequency of Ethereum and altcoin transactions.