Against the backdrop of the cooling market, commissions for Ethereum transactions fell to July levels last year.

The chart below shows the indicator dropping sharply after hitting an all-time high of $200 on May 1.

At the time of writing, a simple address-to-address ETH transfer costs $0.53.

Operations on the Uniswap unsupervised exchange and Opensea NFT market cost around $4-5. Transferring ERC-20 tokens will cost the user a little over $1.

The drop in fees was reflected in the revenues of Ethereum miners, which also fell to mid-summer 2021 values.

The number of addresses with balances of more than 10,000 ETH has also been decreasing lately.

Recall that the “complexity bomb” is expected to be activated in August. The software solution is designed to encourage the transition to PoS and makes it less profitable for miners to work on the Proof-of-Work network.

Previously, ForkLog published an article on how SegWit, Lightning Network, and transaction grouping reduce fees on the Bitcoin network.