Token Terminal data tracking median Ethereum transaction fees from December 2017 through March 2026 shows the network’s fee environment has collapsed from a peak above $25 per transaction during the 2021 to 2022 NFT boom to near-zero levels today, marking one of the most dramatic shifts in blockchain network economics visible across any major chain’s history. What the Chart Shows The Token Terminal chart covers eight years of Ethereum median transaction fee data on a single graph. From December 2017 through approximately January 2020, fees were effectively flat near zero, reflecting a network that was technically operational but not under meaningful demand pressure. The line barely registers above the baseline across the entire two-year window