As ETH gas fee has dropped to its lowest level in 5 years, transferring USDT is now more cheaper on Ethereum than it is on Tron, once regarded as the lowest fee blockchain network.
While transferring USDT from Trust Wallet, the transaction fees come to note at $0.40 for Ethereum while it is $3.72 for Tron. Both the blockchain networks Ethereum and Tron are most used for USDT transfers and this staggering drop in fees in ETH comes as its average gas price drops to $0.05 per transaction.
In the past few years, Ethereum has dominated as one of the most expensive blockchain to send a transaction. Mainly due to network congestion and high usage, fees on Ethereum steadily increased over the past years. At a time, users had to pay as high as $198 for sending a simple transaction on Ethereum.
However, Tron has recently flipped Ethereum in fee revenue generation with its continually increasing network activity.
As per DeFillama data, Solana is leading as a top blockchain platform in 24 hours with the most fees generation while Tron comes second and Ethereum third.
While the gas fees on Ethereum has shrinked to its lowest level, analysts are expecting that the long-lost traction within its DeFi ecosystem could be revised in coming months.
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