Header Ads Widget

Ticker

2/recent/ticker-posts

Ethereum Gas Fees Are Dropping to Extremely Low, According to Analytics Firm – Here’s What It Means - India Blogger

A leading market intelligence firm says that Ethereum (ETH) gas fees have fallen to a level not seen since the crypto market collapse in May of 2021.
In a new report, Santiment says that depressed gas tariffs on Ethereum show that interest in using the leading smart contract platform has dropped significantly.

“Ethereum Fees Too Low” [in the] last day We can also see that they were so low before the previous bottoms. Low fees means very little activity, nobody is interested in doing anything.”
Source: Sentiment
The crypto analytics firm is also looking at Dai (DAI), a stablecoin built on the Ethereum blockchain. According to Sentiment, DAI’s wealth velocity supports the notion that market participants currently have little interest in using the second largest crypto asset by market cap.
“It seems that velocity (of how fast money is moving in the crypto economy) is always [increased] When we got to the top Quite low now. what are these two charts [are] Showing up together is hibernation. This usually happens in winter. Bear sleeping in winter. Waiting for a trigger…”
Source: Sentiment/Twitter
The firm Crypto Insights says the momentum of Dai Money and Ethereum’s extremely low gas fees are indicating “stagnation” and “fear” among market participants.
Ethereum is changing hands at $1,796 at the time of writing, a 13% drop from its seven-day peak of $2,070.
check price action

Don’t miss a beat – Subscribe to have crypto email alerts delivered straight to your inbox

Follow us on Twitter, Facebook and Telegram

Surf the Daily Hodl Mix

&nbsp
Check out the latest news headlines

Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in bitcoin, cryptocurrency or digital assets. Please be aware that your transfers and trades are at your own risk, and any loss you may incur is your responsibility. Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is Daily Hodl an investment advisory. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/PPL/monkographic
Ethereum gas fees drop to extremely low levels, according to analytics firm – here’s what it means first appeared on Daily Hodl.

,



Post a Comment

0 Comments