Ethereum

The digital asset market remains serene this week, with Ethereum (ETH) prices <a href="https://www.binance.com/en/price/ethereum" rel="noopener noreferrer nofollow">idling</a>within a $68 range. Despite a slight surge triggered by the Shanghai upgrade, the Ethereum market has been largely static since mid-March, with prices swinging between a low of $1,861 and a high of $1,931.As the market navigates a sideways trajectory, subtle transformations occur below the visible layer, suggesting a growing inclination towards risk aversion. Consequently, the market is witnessing dwindling trading volumes, increased automation within DeFi utilization, and an escalating preference for stablecoins, notably Tether (USDT).Ethereum prices have <a href="https://www.tradingview.com/symbols/ETHUSD/" rel="noopener noreferrer nofollow">stayed</a>roughly flat and within a narrow range since March. However, gas prices witnessed a significant hike in May. The average gas price escalated to 76 Gwei, translating to $1.14 for a standard ETH transfer transaction. The mean gas price peaked at over 155 Gwei in early May, equating to $6.53 per ETH transfer - a figure almost touching the highs of the 2021-22 bull cycle.Interactions with smart contracts, being more gas-consuming, could cost several times a simple transfer. Gas usage related to DeFi protocols shot up by a whopping 270% in late April, driving the daily gas consumption in the sector above 20 billion gas units.Read full article at <a href="https://cryptotale.org/ethereum-stays-range-bound-stability-dominates-crypto-market/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Ethereum Stays Range-Bound: Stability Dominates Crypto Market

CryptoTale

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