Ethereum transaction fees drop over 85% amid price recovery

Ethereum transaction fees have fallen significantly, with average costs per transfer dropping to approximately $0.095 from an April peak of $0.72. This decline is attributed to softened mainnet demand and network upgrades that have increased capacity, alongside the migration of activity to Layer 2 solutions. While lower fees improve accessibility for DeFi and other on-chain activities, analysts note that the price of ETH has also shown signs of recovery, trading within a defined channel with potential breakout targets at $2,570 and beyond.