This is a chart showing the trend of Ethereum fees and transaction volume. In 2026, Ethereum L1 weekly transaction volume hit an all-time high (early on around 17.3M, later rising to about 18.7M), while the median transaction fee dropped to a historic low (around $0.008 or even lower). This directly reflects the impact of recent scalability upgrades: Pectra, Fusaka (including subsequent BPO upgrades increasing blob count), gas limit raised to around 60M, etc., have allowed L1 to maintain extremely low fees even under higher usage. Currently, gas often stays below 1 gwei, sometimes even dropping below 0.1 gwei, making simple transfer costs very low. Meanwhile, L1 will continue scaling this year. Upgrades like Glamsterdam will further increase the gas limit and execution efficiency. As long as demand doesn’t experience explosive growth, fees still have room to decline further or remain at low levels. Even if demand multiplies several times, fees are very likely to stay at relatively manageable levels, making it unlikely to see the sustained high fees of the previous cycle again.