Mainnet transfers cost just $0.0017! Ethereum gas fees hit an all-time low—Is now the ideal time to transact?

On-chain analyst Ember released the latest data on December 5, revealing that ETH mainnet gas prices have dropped to an unprecedented 0.025 Gwei. This means a simple Ethereum transfer now costs just $0.0017 in transaction fees.

Even more surprisingly, while mainnet fees have hit rock bottom, transaction costs on several major Ethereum Layer 2 scaling solutions—such as Arbitrum and Optimism—currently range between $0.0055 and $0.0079, which is 3 to 5 times higher than the mainnet.

01 Record-Low Fees: The Current State of Ethereum Mainnet

Ethereum mainnet gas fees have reached astonishingly low levels. According to on-chain data from December 5, ETH mainnet gas prices stand at just 0.025 Gwei—a historic low.

This translates to a standard mainnet transfer fee of only $0.0017. In stark contrast, fees on mainstream Layer 2 networks currently range from $0.0055 to $0.0079.

As of December 8, the latest data shows that base fees on some networks within the Ethereum ecosystem remain extremely low. For example, Arbitrum Nova’s base fee is just 0.01 Gwei.

02 The Reversal: Why Are Layer 2 Fees Higher Than Mainnet?

This “reversal” in fee structure is rare in Ethereum’s history. Typically, Layer 2 solutions are designed to be more cost-effective than the mainnet due to their efficient transaction processing.

The current situation likely results from multiple factors. A significant drop in mainnet activity has directly led to lower base fees. This “chill” on-chain environment reflects a broader sense of caution among traders and investors.

Meanwhile, Layer 2 networks may be maintaining relatively steady user activity, keeping their fees from dropping in tandem. When demand for block space exceeds supply, users compete by offering higher priority fees to ensure faster transaction processing.

03 Background Shift: From High Fees to Affordability

Ethereum’s gas fee transformation didn’t happen overnight. Looking back at 2024, average gas prices soared to 72 Gwei. By 2025, that figure had plummeted to 2.7 Gwei—a drop of more than 96%.

This revolutionary shift began with the Dencun upgrade, which slashed overall Ethereum gas fees by 95%.

Previously, users paid up to $86 for a simple token swap; now, the average cost is just $0.39. NFT transaction fees have also fallen from $145 to $0.65.

04 Fee Structure: Understanding How Ethereum Gas Works

To take full advantage of the current low-fee environment, it’s essential to understand the basics of Ethereum’s gas fee structure. Gas in Ethereum acts as the “fuel” that powers the network, measuring the computational work required to execute transactions and smart contracts.

The current gas fee system operates under the EIP-1559 protocol, which splits fees into two parts: base fee and priority fee.

The base fee is the minimum cost per unit of gas required for a transaction to be included in a block. It adjusts dynamically based on network demand and is permanently burned, creating deflationary pressure for ETH.

The priority fee (also known as a “tip”) is an additional fee paid to validators to incentivize faster transaction processing. When the network is congested, higher tips increase the likelihood of rapid confirmation.

The total gas fee is calculated as: Total miner fee = (Base fee + Priority fee) × Gas units used.

05 Strategy Shift: How to Trade in a Low-Fee Environment

With mainnet fees at a clear advantage, traders can adjust their strategies to maximize returns. For simple transfers and low-complexity swaps, consider executing directly on the mainnet instead of defaulting to Layer 2 networks.

A low gas environment significantly reduces the cost of on-chain spot rebalancing, arbitrage, and DeFi portfolio adjustments. This lowers the break-even point for small trades and strategy rotations, making more trading approaches viable.

Setting a maximum fee cap below 1 Gwei allows you to lock in cheap execution costs during low-cost periods. Meanwhile, comparing mainnet fees to Layer 2 quotes in the $0.0055 to $0.0079 range helps you choose the most economical route.

06 Tools: Monitoring and Optimizing Gas Fees

Effectively tracking gas prices is key to optimizing transaction costs. Etherscan remains the industry-standard gas tracking tool, offering real-time base fee and tip recommendations, along with visualized historical trends.

Platforms like ETH Gas Station offer advanced features, including gas price prediction and transaction cost calculators for various operations. Users can estimate exact costs before confirming transactions to avoid unnecessary fees.

Gas price heatmaps help identify the best times to transact; typically, weekend fees are 25% to 40% lower than weekdays. Early morning (UTC) hours often provide the lowest fees.

07 Market Impact: The Long-Term Significance of Low Fees for ETH

An ultra-low gas fee environment could have complex effects on the Ethereum ecosystem. On the positive side, it lowers the barrier to entry for users and may encourage more on-chain activity.

As more users realize that simple operations on the mainnet are now cheaper than on Layer 2, they may reconsider their transaction routing choices. This could temporarily shift activity distribution between Layer 2 and the mainnet.

However, such low gas fees also mean reduced tip income for validators, which may temporarily impact ETH staking strategy yield assumptions. Stakers will need to reevaluate their expected returns and capital cost pricing.

If this low-fee environment persists, it could signal that the Ethereum price is undervalued, drawing traders’ attention to support levels near recent lows. Historically, periods of depressed gas prices often precede network revivals.

Seizing the Opportunity

With Ethereum mainnet gas fees at historic lows, the cost of everything from simple asset transfers to complex DeFi operations is now at an unprecedented level.

These ultra-low fees not only make everyday use more convenient for regular users, but also create a unique cost advantage window for traders and investors.

The reversal in the Layer 2 vs. mainnet fee relationship is a reminder that nothing in crypto is set in stone. When most people assume Layer 2 is always cheaper, reality may have already shifted. Staying flexible and choosing the optimal transaction path based on real-time data is the smart approach for every participant.