Blockchain technology, exemplified by Ethereum, relies on P2P networks for transaction and block propagation. Ethereum uses a hybrid transaction propagation protocol to conserve bandwidth, where nodes forward either full transactions or transaction hashes to their neighbors. While this approach saves bandwidth, it can introduce delays in transaction propagation, especially when nodes must request full transactions using GetData messages. In this paper, we introduce FLTP, a fast and low-bandwidth transaction propagation protocol designed to improve bandwidth efficiency and reduce propagation delays. Our analysis of Ethereum’s transaction propagation process reveals that nodes with higher connectivity tend to receive transactions faster due to fewer GetData requests. Based on these insights, in FLTP, each node maintains a table to track the frequency of GetData requests from each neighbor. This allows nodes to prioritize propagation transactions to those with a history of needing more data. Experiments conducted in a simulated Ethereum environment demonstrate that, compared to transaction propagation protocol in Ethereum, FLTP reduces data by 14.36% and decreases transaction propagation time by 38.61%, demonstrating its effectiveness in optimizing transaction propagation.