Low Ethereum gas fees signal bullish mid-term sentiment

Ethereum gas fees have dropped considerably, the average cost of a transfer now at only $ 0.41, well below the $ 15.21 peak observed in the past two years.

According to the Santiment Chain Analysis Society, low gas costs often suggest a network that is not too congestioned, which can be an optimistic signal for Ethereum (Ethn) Prices at mid-term prices.

It is easier for new buyers to enter the market when there are lower transaction costs, which generally occur during periods of price stagnation or negative feeling. However, as merchants and users rush into transaction, high costs generally point out a soaring claim, which frequently causes temporary corrections.

In another development This could further reduce transaction costs, the Ethereum network recently approved a vote to increase its gas limit to more than 30 million. The gas limit refers to the maximum quantity of gas or calculation resources, which can be consumed by all transactions in a block

A higher gas limit means that the network will be able to treat more transactions by block, potentially reducing congestion and reduction costs.

Ethereum is now negotiated at around $ 2,674 after falling by 2% during the last day. The volume of exchanges increased by 10% despite the decline, which indicates an increase in interest in investors. Ethereum has consolidated between $ 2,565 and $ 2,800 in the past two weeks, but the most recent decline at the lower end of this range suggests that there could be more drops to come.

Over $ 60 million Eth dollars have left the discussions on the last day, according to Coinglass dataThis raises the possibility that investors accumulate ETH. Because they suggest long -term outfit and reduce sales pressure, exchange exits are frequently interpreted as optimistic indicators.

However, with $ 121 million in exposed positions at $ 2,650 and $ 90 million in positions at $ 2605, intraday traders are still cautious. This indicates a greater level of short -term lowering feeling.

The decision of the dry on ETFE ETHEREUM with the integration of intention continues to be as greater as possible bull catalyst for eth. Some analysts believe that the lack of yield yield has a limited demand for these ETFs, but approval could stimulate institutional entries. As of February 18., The total cumulative entries of ETH ETF increased to $ 3.16 billion, according to data from Sosovalue.

Meanwhile, the decentralized ETH exchange activity has increased. Defillama data shows that the protocols based on Ethereum managed $ 2.62 billion in negotiation volume 24 hours a day, against $ 1.1 billion on February 16. Ethereum closes on Solana, which continues to criticize the recent pull -ups of the same money carpet.