Ethereum Transaction Costs Hit Historic Lows: What Does This Mean For ETH?

Quick Summary:

This enhancement has directly contributed to the lowered gas prices and has made Ethereum a more accessible platform for a broader user base, the analyst disclosed.#Ethereum Gas Price Hits New All-Time Low "Despite the approval of Ethereum ETFs, the price of $ETH has been struggling since the Dencun upgrade.

ETH supply has increased by more than 197,000 ETH, and its price has fallen by 35%.” – By @EgyHashX Link 👇 pic.twitter.com/PtbjWGyUzc — CryptoQuant.com (@cryptoquant_com) August 19, 2024 However, EgyHash also highlighted that although lower transaction costs benefit users by making the network more affordable for various applications, they pose a nuanced challenge for investors.

Supply Reaches New High as Staking Takes Off Reason Behind The Plunge In Transaction Costs Discussing the reason behind the historic lows in the Ethereum fee structure, the CryptoQuant analyst under the pseudonym ‘EgyHash’ attributed it to the Dencun upgrade implemented on March 13 this year.

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Article Details

Author / Journalist: Samuel Edyme

Category: Crypto

Markets: United Kingdom

Topics: Ethereum price prediction Ethereum Ethereum Gas Fee ETH ETHUSDT Crypto market Ethereum Etheruem Market

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-20 @ 05:00:23 (15 hours ago)

News Timezone: GMT +8:00

News Source URL: newsbtc.com

Language: English

Article Length: 395 words

Reading Time: 3 minutes read

Sentences: 73 lines

Sentence Length: 6 words per sentence (average)

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Copyright Owner: © NewsBTC

News ID: 22168376

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