Ethereum

Solana

Bitcoin

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Ethereum’s gas prices have dropped, but the fees paid to validators have increased.</li>
 <li>Despite a decrease in Ethereum’s price, the Network Growth has seen a significant surge.</li>
</ul>
<p>Ethereum [ETH] was greatly affected by the recent market downturn, with its price falling below $3400.</p>
<h2 id="low-ethereum-gas-high-fees">Low Ethereum Gas, High Fees</h2>
<p>While the price of Ethereum gas has declined, Ethereum has still outperformed other networks like Solana [SOL] and Tron [TRX] in terms of fees paid to validators.</p>
<p>Despite the drop in gas price, the high validator fees suggest that Ethereum’s network usage remains strong.</p>
<p>Even with lower fees per transaction, a higher volume of transactions could lead to more total fees for validators.</p>
<p>However, these high validator fees might not be enough to counterbalance the overall price drop of <a href="https://coineagle.com/price/ethereum/" rel="noopener noreferrer nofollow">Ethereum</a>.</p>
<h2 id="correlation-to-bitcoin">Correlation to Bitcoin</h2>
<p>At the time of writing, ETH had dropped by 4.14% in the last 24 hours, possibly due to its correlation with <a href="https://coineagle.com/price/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> (BTC), which also saw a significant fall.</p>
<p>Despite Ethereum’s price decline, many holders appear to be in it for the long term, with the average holding time being 2.3 years.</p>
<p>This long-term view is reinforced by the fact that actively traded coins are still held for an average of 2 months, indicating a reluctance to sell.</p>
<p>The length of time coins are held provides valuable insights into investor confidence.</p>
<p>Longer holding periods suggest investors see potential in Ethereum’s long-term future and are comfortable holding their assets.</p>
<p>On the other hand, frequent trading activity may suggest a focus on short-term gains and less faith in the market’s future.</p>
<h2 id="on-chain-data">On-chain Data</h2>
<p>Ethereum’s Network Growth has seen a significant increase in the past few days.</p>
<p>Many new addresses were interacting with ETH at the time of writing, indicating a large number of addresses were interested in purchasing ETH at the current discounted rates.</p>
<p>Furthermore, the speed at which ETH was trading has also increased, suggesting a surge in the frequency of ETH transactions.</p>

Ethereum Gas Usage Hits Record Low as ETH Dips Under $3400: Next Moves?

Spis treści

CoinEagle.com

Inne artykuły opublikowane 24 cze 2024

Solana (SOL)’s Bullish Momentum Stiffens, Leaving Their Meme Factory Coins Behind This ‘Digital D...

XRPL AMM Pools Surpass 10 Million XRP, Marking Milestone

Arbitrum (ARB) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

No More Shitcoinery: Giants Protocol Brings Utility To Runes With First-Ever Bitcoin UTXO-Based D...

Ethereum Whales Influence Price Movements

Bitcoin Miners Face Revenue Crisis Amid Ominous Market Signal

Zapisz się na bezpłatny newsletter i otrzymuj codzień aktualności ze świata kryptowalut!