Ethereum (ETH) has recently exhibited subtle yet noteworthy shifts in its market value, reflecting broader economic indicators and changing market sentiment. Priced at $3,203.90, ETH experienced a slight weekly increase of 0.27% but faced a 3.28% decline in the last 24 hours. These movements align with data from Santiment showing Ethereum’s gas fees have reached their lowest point since October 18th, 2023.
Ethereum’s current market capitalization stands at approximately $390.88 billion, with a circulating supply of 120 million ETH. Its recent trading volume of over $13.46 billion demonstrates robust market activity. Additionally, Ethereum has reclaimed its position above the key 0.049 level, an important metric for traders monitoring its price trajectory.
However, concerns remain regarding the likelihood of an Ethereum Spot ETF approval, with probability dropping to 11% as the decision deadline nears. Conversely, the drop in average transaction fees to $1.12 signals reduced network demand, potentially indicating a near-term price bottom and market turnaround.
Read more >> https://cryptotale.org/ethereum-sees-lowest-gas-fee-with-uncertainty-for-etfs/
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