What Ethereum gas tells you—and what it does not

Gas is a measure of blockspace demand, not a direct measure of an app’s quality or ETH’s future price. A few useful distinctions:

• Gas price is the fee per unit of computation; gas used is the amount of work a transaction requests. • A busy period can raise fees even when the activity is concentrated in one contract or event. • L2 activity, calldata patterns, and base-fee changes can alter what you observe on mainnet. • Compare averages, percentiles, and time windows; a single high-fee transaction is not a trend.

When analyzing fees, separate network utilization from market narratives and state what evidence would change your view. Which gas metric do you find most informative?