[tlrobinson]

If people are paying transaction fees in exchange for some real utility then you'd expect them to pay the same dollar amount for them even if the price went up or down (ignoring second-order effects like increased trading activity).

That's a big "if" though. I'm not sure what portion of transactions are related to trading/speculation vs. something more useful.

[lavrov]

Sure, I'm assuming that most of the transactions are trading/speculation, given that 60% of ETH is held on exchanges, and if the question is how we should value ETH, a measure that depends on the current market value of ETH seems flawed. Plus, the base transaction amount is denominated in ETH: .00042, and is fixed (though I think that the gas conversion changes?).