EIP-1559 - Gas Price Impact
Has EIP 1559 changed gas price?
We can find out the median gas price paid each month by querying the
gas_price for every transaction and grouping it by month.
SELECT DATE_TRUNC('month', block_time) as month, --Divided by 1e9 to convert it to GWEI PERCENTILE_CONT(0.5) WITHIN GROUP (ORDER BY gas_price)/1e9 as median_gas_price FROM ethereum.transactions WHERE DATE(block_time)>= '2021-01-01' GROUP BY month
👨🏽💻 Fork the above query and give it a try.
There is no evidence to show that EIP 1559 has reduced the gas price. The gas price is influenced by the network demand. The primary objective of EIP-1559 is not to make gas cheaper but to reduce gas volatility. Let's measure that in the next section.