The difference in transaction fees between Ethereum L1 and Solana has reached a new low, with a difference of only $0.28 over the weekend

Conor Grogan, an executive at cryptocurrency exchange Coinbase, stated on social media platform X on Monday that the average transaction cost of the Ethereum Layer 1 network reached the closest level to Solana's average transaction cost last weekend, with a difference of only $0.28 in one hour.

According to the chart shared by Grogan, at 7:00 on February 15th, the average transaction fee for Ethereum was about $0.2949, only $0.28 higher than Solana. Grogan also stated that during multiple periods of the Libra event, the cost of swaps on Solana was even more expensive than Ethereum Layer 1.

Grogan It should be noted that during the peak of 2022 (when the boring monkey metaverse game Otherside held an NFT land sales event), the transaction cost of Ethereum was $3500 higher than Solana in a certain hour, and for most of the year, it was $20 to $70 higher.