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Category: NFT News

Transaction Fees On Layer 2 Plummet Post Dencun

By Published On: March 15, 20241.8 min readViews: 2210 Comments on Transaction Fees On Layer 2 Plummet Post Dencun

Fees across leading Layer 2s supporting EIP-4844 have fallen by between 50% and 98%.

Layer 2 networks that support EIP-4844 are already enjoying massive scalability gains following the activation of Ethereum’s long-awaited Dencun upgrade on March 13.

Data from Dune Analytics shows average transaction fees on leading Layer 2 networks Arbitrum, Optimism, Base, and ZkSync Era falling by 87%, 69%, 88%, and 63% respectively in the past 48 hours.

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Dune Analytics also shows the median price of swaps on Uniswap, the leading decentralized exchange, plummeting 96% from $1.19 to just $0.05 following Dencun’s activation.

Hayden Adams, the creator of Uniswap, tweeted a screenshot indicating that gas fees on Uniswap v3’s Optimism deployment had dropped below $0.01.