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According to on-chain analytics firm Santiment<\/a>Ethereum’s average transaction fees have dropped to a modest $2.45, and the price of ETH is almost ready to climb again above $1,900.<\/p>\n ETH was trading at $1,868 at the time of writing, hardly higher than the previous day. According to Santiment, after a brief period during which the average fee for transactions on the Ethereum network rose to $7.40, it has since fallen to $2.45, with the majority of these fees coming from ETH and WETH over the past 24 hours.<\/p>\n \ud83e\udd11 Following a brief stint where #Ethereum<\/a>‘s network became rather pricey at $7.40 per transaction, the average fee has dropped back down to $2.45. Over the past 24 hours, $ETH<\/a> and wrapped $WETH<\/a> are getting the lion’s share of these fees. https:\/\/t.co\/0br2LcwWWR<\/a> pic.twitter.com\/odoQWGcq0r<\/a><\/p>\n \u2014 Santiment (@santimentfeed) July 10, 2023<\/a><\/p><\/blockquote>\n The average transaction fee, or gas fee, on the Ethereum network has cooled significantly after spiking over 57% in the first week of July, owing to VMPX, a newly launched cryptocurrency that operates as an ERC-20 and BRC-20 token.<\/p>\n\n