Earlier today, amid news of the escalating geopolitical tensions and the Israel-Iran conflict, Bitcoin and the broader cryptocurrency market faced severe selling pressure. However, this dip once again met with a strong buying interest from investors. With the Ethereum price dropping to $2,877 earlier today, bulls are staging a strong recovery once again to $3,100.
Ethereum Gas Fee Drops to 3-Month Low
Recent data from on-chain analytics firm Santiment reveals a notable decrease in transaction costs on the Ethereum network. The cost of conducting a transaction on Ethereum has plummeted to $2.07, marking a significant reduction from the $15.21 recorded on March 4th during a period of heightened demand.
Analysts at Santiment suggest that transaction fees on the Ethereum network often reflect prevailing sentiments within the cryptocurrency market. During periods of extreme bullishness, characterized by the belief that crypto assets are poised for significant price increases (“To the Moon
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