Ethereum's transaction fees have dropped to near record lows, indicating a significant improvement in network scalability. The average gas fee is currently around 0.16 gwei (equivalent to $0.01 per transaction), even though daily transaction volumes have risen to 1.6 million. The Pectra upgrade – which doubles Layer 2 capacity and cuts costs by nearly half – plays a key role in this improvement. Combined with the Dencun update, Ethereum processes transactions faster and more efficiently by shifting most activity off the mainnet.$ETH