data analysis company centimentthe largest altcoin from Twitter account Ethereum (ETH) shared important information about
Ethereum’s Noting that average transaction fees are very low, Santiment said that traders pay $2.54 per transaction.
“ETH transaction fees are at their lowest level since July. This is the lowest ETH cost level since July.
Historically, ETH prices have risen after average transactions have fallen below $5.”
🤑 #Ethereum‘s average fees are at an extreme low, costing traders just $2.54 per transaction currently. This is the lowest $ETH cost level since July. Historically (but by no means automatically), $ETH prices rise after average transactions dip below $5. https://t.co/JS3paxdfwz pic.twitter.com/hsc9BoGwPx
— Santiment (@santimentfeed) May 24, 2022
UST and LUNA impacted by the crash, as Ethereum price drops ETH transaction costs fell. In this context, ETH transaction cost is at its lowest level in 10 months.
Another on-chain analytics firm glassnode He also shared that the Ethereum network is used less and ETH He wrote that the number of transactions reached the lowest level in a month (43,924,994 transactions).
📉 #Ethereum $ETH Number of Transactions (7d MA) just reached a 1-month low of 43,924.994
View metric:https://t.co/7zNXcnxY9Y pic.twitter.com/0iRLp9e0oF
— glassnode alerts (@glassnodealerts) May 25, 2022
Reaching its ATH of $4,868 on November 10, 2021, Ethereum is at $1,947 at the time of writing.
*Not investment advice.