About Ethereum Gas Prices
What is Gas?
Gas refers to the fee required to successfully conduct a transaction or execute a contract on the Ethereum blockchain. Gas prices are denoted in Gwei, which is a denomination of Ethereum's native currency Ether (ETH).
Gas Price Factors
Gas prices fluctuate based on network demand. When more people are trying to get transactions processed, gas prices increase. Factors affecting gas prices include:
- Network congestion
- Transaction complexity
- Market conditions
- ETH price volatility
Understanding Our Chart
This chart displays historical average gas prices on the Ethereum network over time. You can view the data in Gwei (1 billion Wei) or Wei (the smallest denomination). Use the time range selectors to focus on specific periods.
Optimizing Transaction Costs
To save on transaction fees, consider:
- Executing transactions during periods of low network activity
- Using layer 2 solutions for smaller transactions
- Setting up gas price alerts with our service
- Batching multiple transactions when possible