The common Ethereum gasoline price has dropped by 95% within the yr following the Dencun improve, one in every of Ethereum’s most important community enhancements.
On March 13, 2024, Ethereum’s Dencun upgrade was rolled out. The improve mixed the Cancun improve on the execution layer and the Deneb improve on the consensus layer. It additionally launched 9 Ethereum Enchancment Proposals (EIPs).
The first purpose was to reinforce Ethereum’s scalability and cut back transaction prices for layer-2 networks. According to YCharts information, Ethereum’s common gasoline price has fallen from 72 gwei in 2024 to only 2.7 gwei as of March 12, 2025.
Final yr, a median swap price customers $86 in charges, whereas non-fungible token gross sales averaged $145 in gasoline charges. On the time of writing, Etherscan information confirmed that a median swap would price $0.39, whereas an NFT sale would common $0.65.
Ethereum common gasoline price. Supply: YCharts
Ether value has dropped 53% for the reason that Dencun Improve
Regardless of the sharp drop in gasoline charges, Ether (ETH) value has declined by 53% for the reason that Dencun improve.
In the course of the improve in March 2024, ETH was buying and selling above $4,070. One yr later, as of March 13, 2025, ETH was valued at round $1,891, in line with CoinGecko information.
Ether’s 1-year value chart. Supply: CoinGecko
In an announcement despatched to Cointelegraph, Dominik Harz, the co-founder of hybrid layer-2 Construct on Bitcoin (BOB), mentioned Ethereum has “underperformed” not too long ago:
“Monday’s value drop erased all DeFi TVL positive aspects since Trump’s election. Between Solana’s memecoin frenzy and Ethereum’s fractured few months, it’s clear the business is looking for a brand new, extra sustainable and safe frontier for DeFi.”
Associated: More than 50% of validators signal to increase ETH gas limit
Upcoming Pectra improve sees hiccups
On March 5, Ethereum’s subsequent main improve, Pectra, rolled out on its final testnet, Sepolia. Nevertheless, the group began seeing error messages and empty blocks being mined.
Ethereum developer Marius van der Wijden confirmed {that a} repair was deployed, however an unknown consumer later triggered the identical error, resulting in additional points. The event group has since managed to stabilize the testnet and efficiently course of transactions.
Harz mentioned that whereas these testnet points are “disrupting the mainnet launch,” they’re removed from Ethereum’s largest issues. The chief mentioned that when Pectra goes reside, it’ll double the obtainable information house for layer-2s, cut back prices and enhance execution capability.
“Whereas that’s a step in the suitable route, the truth is that Ethereum is rapidly dropping its place because the go-to chain for builders, and Pectra isn’t the fix-all resolution to its deeper points,” Harz mentioned.
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