Layer 1s • February 19, 2025, 7:01PM EST Quick Take The record-low Ethereum fees signal weak demand amid onchain volume decline. The following is an excerpt from The Block’s Data and Insights newsletter. The 7-day moving average (7DMA) of transaction fees on the Ethereum network fell to $0.77 on Feb. 15. This figure stood at $2.57 just a week prior, marking a 70% week-over-week drop. This drop pushed transaction costs to their lowest levels in dollar terms in over four years, which means the las...