Crypto analytics firm Santiment predicts that Ethereum (ETH) and related altcoins could rally sooner than expected.
Ethereum’s Low Transaction Fees
Santiment highlights Ethereum’s average transaction fee, which has fallen to its lowest level since October 2023. This indicates that Ethereum is potentially forming a bottom.
Altcoins Show Signs of Strength
Santiment also observes that altcoins in the Ethereum ecosystem, such as Lido DAO (LDO) and Rocket Pool ETH (RETH), are showing signs of recovery.
Conclusion
Despite the recent market downturn, Santiment believes that Ethereum and associated altcoins could experience a rally sooner than anticipated. The low transaction fees and positive performance of certain altcoins suggest that the market may be turning around.
