Ether Turns Inflationary as Network Revenue Plunges to 9-Month Low
ETH has given up its deflationary status as network fees are falling, putting pressure on the price of the second largest cryptocurrency.
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ETH has given up its deflationary status as network fees are falling, putting pressure on the price of the second largest cryptocurrency.
The recent decline in the ETH/BTC ratio continues a trend that began more than a year ago.
Developers of the Ethereum blockchain say there was a misconfiguration in the genesis files of the test network, and now they plan to try again in about two weeks.
Broader crypto markets were modestly lower late on Wednesday.
The Ark 21Shares Ethereum ETF is the first attempt to list such a fund in the U.S. that directly invests in ETH, the second largest cryptocurrency by market capitalization.
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.
Only tron (TRX) and toncoin (TON) were in the green on Friday, up over 1% each on no immediate catalysts.
ETH fell to as low as $1,547 last Thursday, its lowest price since June.
Despite today’s market-wide advance, the outlook for risk assets is pointing to softer prices for the next few weeks, one observer noted.
Bitcoin prices fell suddenly late on Thursday amid reports of hundreds of millions in sales, triggering a bloodbath across futures and spot markets.