{"id":670,"date":"2024-04-29T12:35:01","date_gmt":"2024-04-29T12:35:01","guid":{"rendered":"https:\/\/cryptd.in\/ethereum-gas-fees-six-month-low-suggests-impending-altcoin-rally-santiment\/"},"modified":"2024-04-29T12:35:01","modified_gmt":"2024-04-29T12:35:01","slug":"ethereum-gas-fees-six-month-low-suggests-impending-altcoin-rally-santiment","status":"publish","type":"post","link":"https:\/\/cryptd.in\/fr\/ethereum-gas-fees-six-month-low-suggests-impending-altcoin-rally-santiment\/","title":{"rendered":"Ethereum Gas Fees Six-Month Low Suggests Impending Altcoin Rally: Santiment"},"content":{"rendered":"

Gas fees on the Ethereum network have dropped to a six-month low. The average cost is $1.12 per transaction, marking the lowest figure since October 18.<\/p>\n

Analysts from Santiment noted that this drop in gas fees could be the start of an upcoming altcoin rally.<\/p>\n

Ethereum Gas Fees Plummet<\/h2>\n

According to Santiment, traders typically cycle between periods of extreme optimism, often characterized by the belief that a certain asset is set for exponential growth, and periods of pessimism, marked by the sentiment that it is declining.<\/p>\n

#Ethereum<\/a>est tomb\u00e9 \u00e0 $1.12 par transaction du r\u00e9seau, soit le co\u00fbt moyen le plus bas en une journ\u00e9e depuis le 18 octobre.<\/p>\n

Les commer\u00e7ants \u00e9voluent historiquement entre des cycles de sentiments qui #crypto<\/a> est d'aller \"sur la lune\" ou d'avoir le sentiment que \"c'est mort\", ce qui peut... pic.twitter.com\/8b8rLMLyIf<\/a><\/p>\n

- Santiment (@santimentfeed) 28 avril 2024<\/a><\/p>\n\n

This fluctuation in sentiment is reflected in transaction fees, which generally peak around market highs and return to normal levels during market lows.<\/p>\n

The recent drop in Ethereum gas fees can be attributed<\/a> to the Dencun upgrade and a general lull in the broader crypto market. These developments have reduced on-chain activity, subsequently driving down Ethereum gas fees.<\/p>\n

This contrasts with just a few months ago when gas fees on the Ethereum network soared to an eight-month high in February. This increase coincided with a substantial surge in interest surrounding an experimental token standard known as ERC-404.<\/p>\n

On February 9, gas prices peaked<\/a> at an average of 70 gwei per transaction, equivalent to approximately $60 for a standard transaction. At their peak, gas costs surged as high as 377 gwei, a level not seen since May 12, 2023.<\/p>\n

The price of Ethereum has recently seen a modest rally, with a 4.3% gain over the past week, according to donn\u00e9es<\/a> from CoinGecko. However, as of today, ETH has encountered a 4% decline, erasing the gains from the previous week and currently trading around $3,200.<\/p>\n

Ethereum\u2019s Circulating Supply Surges<\/h2>\n

Meanwhile, the decreased activity on the Ethereum network has led to an increase in the circulating supply of ETH, reaching its highest point in the past month.<\/p>\n

Data<\/a> shows that over the last 30 days, 74,458 new ETH were issued, while only 57,516 were burned, resulting in a net supply increase of 16,979 new tokens. This marks a shift from the previous five months, which experienced consistent deflationary trends.<\/p>\n

Despite this recent increase in ETH-based inflation, the network has burned over 437,000 tokens since transitioning<\/a> to a proof of stake consensus mechanism in September 2022.<\/p>\n

In other news, asset manager Franklin Templeton made headlines by listing<\/a> its spot Ethereum exchange-traded fund (ETF) on the Depository Trust and Clearing Corporation (DTCC) website.<\/p>\n

This development has reignited investors\u2019 optimism regarding the potential approval of an Ethereum ETF by the SEC, with expectations for a decision in May.<\/p>\n

Le poste Ethereum Gas Fees Six-Month Low Suggests Impending Altcoin Rally: Santiment<\/a> est apparu en premier sur CryptoPatate<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Gas fees on the Ethereum network have dropped to a six-month low. The average cost is $1.12 per transaction, marking the lowest figure since October 18. Analysts from Santiment noted that this drop in gas fees could be the start of an upcoming altcoin rally. 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