Ethereum Leads in All-Time Gas Fees

Ethereum continues to lead in all-time gas fees, particularly within the DeFi sector, despite a decrease in on-chain activity and the lowest transaction costs seen in over four years.

Dominance in Gas Fees

According to data analytics platform Growthepie, Ethereum’s Layer 1 blockchain dominates in all-time gas fees generated across various sectors (finance, gaming, NFTs, etc.), except for social networks.

In the DeFi sector alone, Ethereum (ETH) has accrued over $1.68 billion in total gas fees. It outperforms other blockchains in DeFi gas fees across all timeframes—all-time, monthly, 3-month, and weekly. This indicates Ethereum’s continued dominance in DeFi usage, even as Layer 2 solutions often offer cheaper alternatives.

Low Transaction Costs

While Ethereum generates the highest-ever gas fees, actual transaction costs are currently at their lowest levels in over four years. The last time fees were this low was July 2020. This significant drop is primarily due to the median gas price being very low, averaging 3 Gwei, with a record low of 1.19 Gwei on February 16, the lowest since January 2020.

Decrease in On-Chain Activity

Despite leading in gas fees and reduced transaction costs, Ethereum is experiencing a slowdown in on-chain activity. The 7-day moving average (7DMA) of Ethereum’s on-chain volume fell to approximately $3.77 billion on February 18, reaching the lowest daily volume since November 2024.