Santiment, a crypto analytics firm, is seeing a positive sign for Ethereum (ETH) in the long run: low transaction fees.
Cheap Ethereum Transactions
Currently, the average cost to transfer ETH is just $0.41. That’s a huge drop from the $15.21 peak seen over the last two years. Santiment says this is good news.
Low Fees, Bullish Outlook?
Low transaction fees typically mean the Ethereum network isn’t overcrowded. This often happens when the price of ETH is considered low by traders, making it more attractive for new buyers to jump in. Conversely, high fees usually signal lots of network activity, often during periods of rapid price increases. These low fees might even encourage more users back into the Ethereum market.
Current ETH Price and Market Sentiment
At the time of writing, ETH is trading around $2,712, up about 3% in the last 24 hours.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies.
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