Why did the gas fees on the ETH mainnet suddenly become so cheap? It seems counterintuitive, but in fact, on-chain activity has already reached a record high.

Several key factors are changing behind the scenes. First, the Rollup ecosystem has matured enough to handle most transaction executions, directly alleviating the computational pressure on the mainnet. Second, blob storage space is still underutilized; according to design, this capacity is far from saturated. More importantly, current L1 demand is mainly focused on settlement layer functions rather than high-frequency trading, which alters the supply and demand dynamics of fees.

In other words, Ethereum's architecture is moving toward a Rollup-centric vision — increasing on-chain throughput without relying on mainnet congestion to sustain high gas fees. This is a positive signal for the long-term health of the ecosystem, but for fee market participants, it requires a rethinking of value distribution.