Ethereum L1 is seeing a rise in transfer volume as weekly transaction activity exceeds $12 million, while fees stay notably low.

Overall, Layer 1 transaction fees have fallen to near all-time lows, signaling a notable shift after years of congestion concerns.

This upturn contrasts with earlier spikes in gas costs that pushed users toward Layer 2 solutions such as Base, Optimism, and Arbitrum.

The low-fee period is linked to broader on-chain data and market chatter about upcoming demand and infrastructure enhancements.

Some analysts foresee a renaissance for Ethereum L1 if the favorable fee regime persists and liquidity returns to the main chain.

Observers including analysts and trackers like Xave Meegan and Token Terminal are noting the higher activity and weighing its potential implications for Ethereum’s base layer.

Even with increased activity, median L1 fees stay under two cents, keeping the network affordable for users and traders.