Ethereum’s New Low-Fee Regime May Put Its ‘Ultra Sound Money’ Thesis to Test
The Ethereum network’s revenue from fees dropped to its lowest level since April 2020 as speculative activity disappeared and users migrated to layer 2s, IntoTheBlock said.
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The Ethereum network’s revenue from fees dropped to its lowest level since April 2020 as speculative activity disappeared and users migrated to layer 2s, IntoTheBlock said.
Crypto traders suffered over $100 million of losses in liquidations on Monday, Coinglass data shows, as the digital asset market rout intensified.
Bitcoin is on track for gains on Friday despite bearish U.S. jobs numbers which initially sent the crypto down nearly 2%.
Ether’s price dropped to its lowest price compared to bitcoin since July 2022 as the launch of futures-based ETH ETFs attracted meager interest from investors.
Cryptocurrency markets surged higher Thursday, with the price of bitcoin (BTC) breaking above the $27,000 level for the first time alongside easing macro pressures.
ETH has given up its deflationary status as network fees are falling, putting pressure on the price of the second largest cryptocurrency.
BTC slid to $26,500 as interest rates and the U.S. dollar surged while equities declined.
The recent decline in the ETH/BTC ratio continues a trend that began more than a year ago.
There’s a high probability of approval on or before the SEC’s final deadline in mid-October for a decision on the first ether futures ETF in the U.S.