Ethereum Gas Price Historical Chart

Ethereum network fees, also known as gas fees, can be high or low depending on several factors:

• Network congestion: When there is a high demand for transactions on the Ethereum network, users have to pay higher fees to get their transactions processed faster. This competition for block space leads to increased gas fees. High congestion can be a result of increased trading activity, ICOs, DeFi activities, or other events that lead to a surge in network usage. Conversely, when the network is less congested, fees tend to be lower.
• Gas price: Users can set their own gas price (measured in Gwei) when sending transactions, which determines how much they're willing to pay for the transaction. Miners prioritize transactions with higher gas prices. When network demand is low, users can often set lower gas prices and still have their transactions processed in a reasonable time.
• Complexity of transactions: More complex transactions, like interacting with smart contracts, generally require more computational power to execute and thus have higher gas fees. Simple transactions, such as sending ETH, usually require less gas and thus have lower fees.
• Time of day/week: Sometimes, fees can be lower during off-peak hours or days when fewer people are using the network. This is not a strict rule, as network activity can vary, but it's a general observation.

Note that gas fees can change rapidly depending on the factors mentioned above.