$ETH Ethereum just upgraded to Fusaka—Gas fees are now only $0.01. Over the past two days, the crypto community has been buzzing because Ethereum completed the Fusaka upgrade—this update optimized data and improved performance, especially by reducing gas fees to about $0.01 per transaction.

This number was almost only seen in dreams before.
But the irony is: Gas is cheaper, the network is more powerful—yet user numbers have dropped.
It's like building a new highway with super-low tolls... but very few cars.
1. "High Gas Fees" are no longer a reason to abandon Ethereum
For years, everyone complained that ETH was too slow and expensive, which led to the whole L2 ecosystem: OP, ARB, ZK, STRK, METIS... everyone wanted to be Ethereum’s "fast lane bypass."
Now ETH has officially solved its biggest shortcoming, but a paradox has appeared:
Users haven't come back.
2. Why is Ethereum no longer active?
There are three main reasons:
(1) Speculative capital is flowing to memecoins, games, and cheaper chains
The current market no longer focuses on "infrastructure," but rather "where can I profit quickly."
Funds are flowing to Solana, BNB, TON... these places constantly have new stories, with x5 or x10 opportunities clearly visible.
Ethereum is stronger, but lacks hot narratives→liquidity flows out.
(2) Users are already used to L2, with no reason to return to L1
When OP or ARB are already familiar, with low fees, fast speeds, and thriving ecosystems→there’s no need to return to L1.
Ethereum L1 now feels more like a "luxury residential area," while the L2s are the "bustling marketplaces."
(3) Onchain activity is generally cooling off
It’s not just ETH—the entire market’s activity is declining:
Very few are trading NFTs
Games have yet to explode
Farming is no longer attractive
Memecoins are spread across multiple chains
When the market is down, even ultra-low gas can't drive up transaction volumes.
3. The scary truth: Technology alone can't automatically bring users
Fusaka makes Ethereum stronger—but what brings users back are stories, opportunities, and capital flows, not just technology.
Ethereum is like a modern city that just widened its roads, but the residents have already moved to "places with better jobs and faster income."
Good technology is just the foundation.
What the market really needs is momentum—a narrative.
4. So what’s next for Ethereum?
Although ETH is a bit "quiet" right now, this upgrade is a solid foundation for Ethereum’s future rebound—
When new narratives emerge
When capital returns
When onchain applications explode
When AI + DeFi + RWA are integrated directly into ETH
By then, low fees and high speed will be a huge competitive advantage.
Conclusion
Ethereum has achieved what the entire market has waited nearly 5 years for: bringing gas close to zero.
But the upgrade is just the first step. What ETH lacks now isn’t technology—it’s the momentum to bring capital back.
When a new narrative appears, you’ll see Ethereum congested again... because there will be too many users.