After a string upswing to $2,100 last week after the news of BlackRock filing a spot Ethereum ETF, the ETH price has come under some selling pressure and is currently trading around the $2,000 level.
Ethereum Fees Hit 4-Month High
Earlier this week on Sunday, November 12, the Ethereum network fees climbed to $5.72 per transaction hitting its highest levels since July 2023.
On-chain data provider Santiment noted that with the resurgence of Ethereum (ETH) above $2,000 last week and increased network activity, it’s no surprise that fees have also climbed. However, in relative terms, transaction costs remain affordable compared to the elevated average fee levels of $14 observed in May. Keep an eye on the potential impact on other ERC-20 tokens as well.
Courtesy: Santiment
ETH Price and Options Data
The Ethereum chart reveals a recent pullback following a significant price surge, indicating a momentary pause in the market. This consolidation phase is considered healthy, providing an oppor
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