Fusaka upgrade reduces Ethereum gas fees to the lowest level since 2017

Just a few days after the Fusaka upgrade was implemented, data from CryptoRank shows that Ethereum transaction fees have dropped to their lowest level since 2017, marking a significant step forward in improving scalability and optimizing network costs.

At the same time, Vitalik Buterin also proposed an on-chain, trustless gas futures market, allowing users and developers to proactively hedge against fee volatility — a solution that could reshape the prediction and governance mechanisms for costs on Ethereum in the future.

The positive developments from Fusaka are seen as a strong catalyst for the Ethereum ecosystem, helping to improve user experience and increase the network's competitiveness. However, it also puts considerable pressure on Layer 2 solutions and other Layer 1s, especially those that have not yet completed their ecosystem development during the previous high gas fee period.