Ethereum (ETH) gas price history up until November 29, 2022
Ethereum network fees paid to miners whenever a payment transaction is initiated on the blockchain more than tripled between October 2020 and March 2021. These transaction fees - commonly denoted as gas or Gwei - were considered to be very low up until 2020, when the Ethereum network started to cope with increasing amounts as well as more complex transactions. This coincided with the growing importance of Decentralized Finance or DeFi, with more services essentially putting more strain on the cryptocurrency's network. The consequence is that Ethereum gas price increased for all users, especially for NFT transactions across various segments.
