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All Journal Indonesian Journal of Science and Technology Jurnal CoreIT Buletin Ilmiah Sarjana Teknik Elektro IJIIS: International Journal of Informatics and Information Systems Journal of Applied Data Sciences International Journal of Robotics and Control Systems Munaddhomah: Jurnal Manajemen Pendidikan Islam International Journal for Applied Information Management Indonesian Journal of Teaching in Science Journal of Current Research in Blockchain
Sangsawang, Thosporn
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Religion Humanities Computer Science & IT Control & Systems Engineering Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Electrical & Electronics Engineering Environmental Science Mathematics Social Sciences Other

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Correlation Between Gas Prices and Transaction Value in Ethereum Blockchain Işman, Aytekin; Sangsawang, Thosporn
Journal of Current Research in Blockchain Vol. 2 No. 4 (2025): Regular Issue December 2025
Publisher : Bright Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47738/jcrb.v2i4.47

Abstract

This study examines the relationship between gas prices and transaction values on the Ethereum blockchain, providing a detailed analysis of transaction dynamics and the factors influencing gas price determination. The correlation coefficient between gas prices and transaction values is -0.0273, indicating a very weak and negative relationship. Instead, gas prices are driven by factors such as computational intensity, network congestion, and user prioritization. Functions with higher computational demands, such as mint, recorded the highest mean gas price of 120.45 Gwei, with a standard deviation of 15.30 Gwei, while functions like approve and transfer exhibited mean gas prices of 98.30 Gwei and 110.80 Gwei, respectively. Recipient address analysis reveals a strong concentration of transaction values, with the top recipient address receiving 49.95 ETH consistently, indicating high-value operations directed toward specific accounts. High-gas transactions, defined as those above the 90th percentile, displayed a mean gas price of 191.96 Gwei with minimal variability, while their corresponding transaction values varied widely, with a mean of 23.91 ETH and a standard deviation of 13.66 ETH. These findings provide critical insights into Ethereum transaction behavior, emphasizing the role of function type and user prioritization in shaping gas price decisions. Future research should investigate the impact of network upgrades such as EIP-1559, the adoption of Layer-2 scaling solutions, and temporal trends in transaction behavior to enhance network scalability and cost efficiency as Ethereum continues to evolve.
Co-Authors Aang Subiyakto Abdul Karim Bakti Gama, Cipta Boonsong, Sutthiporn Chankham, Nawaphas Chen, Mei Chen, Rui Cheng, Fan Darboth, Kanokwan Dulklang, Thanyathorn Evi Triandini Evy Nurmiati Fetrina, Elvy Forca, Adrian Jaleco Fu, Ying Huang, Lihua Huda, Muhammad Qomarul Intarapreecha, Navinee Isman, Aytekin Junru, Chen Kulnattarawong, Thidarat Li Guo Li, Shu Liu Yang Luaensutthi, Aammuay Luhuringbudi, Teguh Meinarini Catur Utami Mesraini Mesraini Nashrul Hakiem Pasawano, Tiamyod Pigultong, Matee Pigultong, Metee Prammanee, Noppadol Punyayodhin, Sulaganya Rahman, Hadi Rangkuti, Rahmah Yasinta Sawetmethikul, Pakornkiat Shuang Li Siramaneerat, Issara Tang, Lin Thepnuan, Naruemon Thepnuan, Narumom Vipahasna, Kitipoom Vipahasna, Piyanan Pannim Wang, Ning Watkraw, Wasan Wen, Tingbin Yang Wang Yongmei Li Yudhanta, Satya Yuni Sugiarti, Yuni Yuri Pamungkas Zhang, Yongfeng Zhang, Zhang Zhong, Junhua Zhou, Dan Zhou, Lin