Ethereum

<p>The Ethereum network is currently undergoing a major transformation, marked by a historic reduction in gas fees. This situation has significant consequences on the supply of Ethereum, which has become inflationary! Sending the crypto soaring to $3,300 in 24 hours.</p>
<h2 id="h-drop-in-ethereum-gas-fees-crypto-soars">Drop in Ethereum Gas Fees: Crypto Soars!</h2>
<p>Over the past 24 hours, Ethereum has recorded an increase of 1.11%, currently trading around $3,309! This increase comes in a context where gas fees on the crypto network have reached <a href="https://www.cointribune.com/en/crypto-celebrity-memecoins-drop-by-94-why/" target="_blank" rel="noopener noreferrer nofollow">historically low</a> levels, falling to an average of 4 Gwei. This reduction in transaction fees has led to a decrease in the amount of ETH burned, making the supply of Ethereum inflationary. Indeed, less than 200 ETH have been burned in the last 24 hours, contributing to a supply growth rate of 0.67%.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>This drop in gas fees is primarily due to the increasing adoption of layer 2 scaling solutions and the introduction of blob transactions with the Dencun hard fork in March. These improvements have significantly reduced transaction costs on layer 2 networks, thus influencing the entire Ethereum network.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://bitvavo.com/fr/affiliate/coinmedia?a=_cta" target="_blank" rel="noopener noreferrer nofollow">€20 bonus for registering on Bitvavo</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<h2 id="h-network-perspectives">Network Perspectives&nbsp;</h2>
<p>The drop in gas fees on the Ethereum network has both short-term and long-term impacts. In the short term, it makes crypto transactions more affordable, encouraging increased network usage and potentially raising the value of ETH. In the long term, this fee reduction decreases the amount of ETH burned, thereby increasing the total supply, which could exert downward pressure on the price of ETH. However, broader adoption of layer 2 scaling solutions could offset this effect by increasing demand for ETH. Managing these dynamics will be crucial for Ethereum’s future.</p>
<p>Despite these challenges, some analysts remain optimistic about Ethereum’s future. They believe that the fee reduction makes the network more accessible for end-users and that the inflow of new capital is a positive sign for the crypto <a href="https://www.cointribune.com/en/these-major-events-are-going-to-shake-up-the-crypto-market-this-week/" target="_blank" rel="noopener noreferrer nofollow">ecosystem</a>. Managing the supply and inflation of Ethereum will be crucial for its future development.</p>

Ethereum Gas Fee Drop Boosts Crypto Market!

Tabla de contenidos

Cointribune EN

Otros artículos publicados el 30 jul 2024

Ethereum ETFs Debut Strongly: BlackRock and Bitwise Lead with $470.5M Combined Inflows

This Memecoin Going Aganist the Trend-Will BOOK OF MEME (BOME) Price Dominate the Markets?

SEC vs Binance: US SEC Amends Lawsuit, Drops Solana from Security List

Ethereum gains as Open Interest surges: What’s driving the momentum?

US Transfers $2B in Bitcoin After Trump’s Promise

Bitcoin Conference in Nashville Fuels Push for U.S. Adoption as Reserve Asset

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!