Current Ethereum Gas Price in Gwei⛽️

An Ethereum gas fee is a small payment you make when you do any transaction or action on the Ethereum network. This fee covers the computing power needed to process your transaction.

You can think of Ethereum like an electric car, and ETH gas as the electricity that powers it. Every action in an electric car (like accelerating, braking, or turning on the radio) uses energy. It’s the same with Ethereum. Sending ETH, swapping it for other crypto, lending, or running smart contracts all require ETH gas to work.

Ethereum gas fees change based on supply and demand on the network. Since Ethereum can only handle a certain number of transactions per block, users compete to get theirs processed. People offer higher fees, and validators choose to process the transactions that pay more first.

Another reason Ethereum gas fees change is the network’s built-in fee system. If blocks are more than half full, the network automatically raises the base ETH gas fee, and vice versa. This adjustment happens with every block (about every 12 seconds) so gas fees can change quickly, even if you don’t do anything different.

ETH gas prices also depend on the type of transaction. Simple actions like sending or trading ETH have low gas fees. Swapping tokens on a decentralized exchange (DEX) needs more computing power, so the fee is higher. Minting NFTs or doing complex DeFi actions uses even more power, so these have the highest gas prices.​

You can also add a tip, called a priority fee, to speed up your Ethereum transaction. A low tip makes your transaction cheaper but slower. A high tip costs more but gets processed faster. If many people add high tips, the average fee goes up for everyone.

Ethereum gas price is in Gwei, the smallest fraction of the ETH native cryptocurrency.

The formula to calculate the ETH gas price is:
Gas used x (Base gas fee + Priority fee) = Total ETH gas price in Gwei

‍Gas used: This depends on how complex the transaction is.
‍Base gas fee: This is set by the Ethereum network.
‍Priority fee: This is an optional amount you can add to speed up your transaction.​

Let’s look at an example of how to calculate gas for an ETH swap:
‍Gas used: 150,000
‍Base gas fee: 0.126 Gwei
‍Priority fee: 10 Gwei

​150,000 x 10.126 = 1,518,900 Gwei​
This equals 0.0015189 ETH, or about $4.45.

Ethereum gas price is lowest when fewer people are actively trading, minting NFTs, launching tokens, or using DeFi. Network activity and ETH gas fee are usually at their lowest at these hours:​

‍US (Easter Time): 8PM to 1AM
‍Europe (Central European Time): 2AM to 7AM
‍Asia (GMT+8): 9AM to 2PM

​ETH gas fees are low because most financial institutions, Web3 projects, and Ethereum traders in Europe and North America are inactive during these times, while traders in Asia are just starting their day.​

ETH gas fees are even lower on Saturdays and Sundays because institutional traders don’t transact on weekends, and there are usually no major crypto events or government policy announcements then.

Even though the Ethereum network is operational 24/7, human behavior still follows a workweek.​

Professional trading firms, market makers, trading bots, and risk-management DeFi protocols are most active from Monday to Friday, especially during US and EU market hours. These groups are willing to pay high ETH gas fees because speed is important and delays can cost them money.​

Ethereum-based projects, DeFi businesses, and DAOs often launch tokens, manage treasuries, or lend and borrow ETH or ERC-20 tokens on weekdays. ETH gas fees go up when the network is busy, especially for more complex transactions.