Ethereum has the biggest gains on the daily chart for the main cryptocurrencies by market cap. At the time of writing, ETH is up 4.9% and trades at $2.328,58. With sideways movement in the weekly and 46.7% gains on the monthly chart.
More appreciation for ETH seems to be imminent. The network appears to be solving a “disadvantage” that has been leverage by its competitor to gain market share, high transaction fees. Data from EthGasStation indicates that a fast or standard transaction has a cost between 45 to 50 gwei.
As shown in the chart below, ETH’s gas fees are on a decline since April 20th. At that moment, this metric soared to an average of $37, their highest cost since February 2021. The trend appears to be reversing and the metric is close to its lowest point this year with an average cost of $10.22 per transaction. Read More