According to @BullTheoryio, Ethereum gas fees have dropped below 0.01 USD while network activity is at an all-time high, versus roughly 50 USD during the 2023 PEPE memecoin surge; source: @BullTheoryio on X, Jan 17, 2026. For traders, near-zero gas materially lowers total on-chain execution costs for swaps, arbitrage, and NFT mints on ETH, enabling more granular position sizing and more frequent rebalancing without prohibitive overhead; source: @BullTheoryio describing almost zero cost on the same network (X, Jan 17, 2026). This setup contrasts with prior fee-driven bottlenecks like in 2023, when costs spiked, indicating materially improved cost efficiency for on-chain activity on Ethereum; source: @BullTheoryio on X, Jan 17, 2026.