Good news for NFT traders: Ethereum Gas prices are cheap as they can get

From mid-January the average Ethereum gas has been falling, for example, if it was $52.46 per transfer in mid-January, the Ethereum gas fees fell around 71% to a low of $15.13 per transaction in mid-February.

One of the possible reasons for the drop in gas price could be the increase in layer 2 activity or people moving to other networks.

Or the fall in gas prices could be directly related to a fall in NFT sales. For instance, it noted, “there’s a brief spike in volume on OpenSea on February 12, and February 13, before it falls off a cliff—the same with gas prices”.

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