Ethereum Gas Fees Hit 8-Month Lows As Price Continues To Struggle
Ethereum gas fee had run-up to some of the highest levels back in 2021. Mostly, this was caused by the growth of the decentralized finance (DeFi) and non-fungible tokens (NFTs) space that saw activity on the network spike significantly. This had continued for the better part of the year but as the market has ushered in the new year, activity on the network has begun to stabilize, seeing Ethereum fees drop. Ethereum Fees Drop To Eight-Month Low Ethereum fees have been steadily dropping for the last couple of months. Some of this has to do with the recent bear trend that has seen momentum....
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Ethereum continues to outpace Bitcoin in transaction fees, with DeFi mania helping push total fees to $166 million last month.
Ethereum gas prices have been declining for a while now. It had risen to its all-time high back in 2021 when the bull market was in full bloom. It then continued to maintain on the high spike, spiking at various intervals to high points. At its highest, average ETH gas fees were as high as $69. However, with the recent downtrend and the market losing momentum, the gas fees have crumbled and the recent decline has seen its near six-month lows. Ethereum Fees Are Down Ethereum gas fees for the last three months showed a consistent downtrend that saw average gas fees decline as low as $5.98 in....
On-chain data shows Bitcoin miner revenues have now declined to six-month lows as the price of the crypto has continued to struggle recently. Bitcoin Miner Revenues Fall To 6-Month Lows As per the latest weekly report from Arcane Research, the BTC miner revenues have now dropped to lows not seen since six months ago. Over […]
Ethereum dropped below $1,300 on Thursday, as markets continued to react to the U.S. Fed’s latest decision to raise interest rates. Following speculation of a 100-basis-point hike, the Federal Reserve hiked rates by 0.75%, as it continues to struggle against rising consumer prices. Bitcoin also declined, moving close to the $18,000 level. Bitcoin Bitcoin (BTC) moved closer to $18,000 on Thursday, as markets slipped following the latest U.S. Federal Reserve policy meeting The Fed opted to increase interest rates by 75 basis points on Wednesday, with Chair Jerome Powell hinting at....
Data shows that the last time the Ethereum transaction fees dipped towards lows this deep, the cryptocurrency’s price reached its bottom. Ethereum Average Transaction Fees Has Dropped To Just $1.13 Now According to data from the on-chain analytics firm Santiment, the cryptocurrency has observed particularly low fees this week. The “average fees” here refers to […]