The median gas price on Ethereum's mainnet on Saturday fell just below 3 gwei, a level that hasn't been seen since 2020, in a significant sign that Ethereum's Layer 2 networks may in fact be helping to ease the cost of sending a transaction on the world's second most valuable blockchain. 

Just one year ago, that median gas price was about 15 to 20 gwei, a significant increase over Saturday's value. 2024's peak gas prices came in March, with the highest one-day median gas price occurring on March 5 with 83 gwei, according to a Dune Analytics dashboard by @hildobby.

However, after the Dencun upgrade went live on Ethereum on March 13, bringing "blobs" to Ethereum and reducing the cost of sending transactions on Layer 2 networks, the median price of gas has steadily declined. 

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