How do I know if my ETH gas fee is low?

When determining the best time to trade for lower ETH gas fees, network status plays a crucial role. Generally, gas fees tend to be lower during periods when the Ethereum network is less congested. This is because fewer transactions are competing for the limited computational resources available on the blockchain.

The congestion level of the Ethereum network can vary greatly depending on various factors, such as the number of active users, the complexity of transactions, and the overall demand for blockchain services. Therefore, it is important to monitor the network status regularly in order to identify periods of lower congestion.

In addition to network status, another factor that can influence gas fees is the time of day. Gas fees can decrease by a significant amount during off-peak hours, when fewer people are actively using the Ethereum network.

For instance, gas fees can often be lower in the early mornings in the U.S., around 4-6 AM EST. This is because many users in the U.S. are likely to be asleep or just starting their day, resulting in less competition for blockchain resources.

Similarly, gas fees can also be lower late at night, from 11 PM to 1 AM EST. This is another period of low activity on the Ethereum network, as many users have likely finished their day's transactions and are no longer active.