Summary
- It was announced that the average fee for Ethereum (ETH) has fallen to its lowest level in 5 years.
- Analysis has emerged that low fees are interpreted as a signal for a price rebound.
- Fees below $1 indicate low market interest, which can increase the possibility of a rebound.
The average fee for Ethereum (ETH) has recently fallen to its lowest level in 5 years, and generally, low fees are interpreted as a signal for a price rebound, according to analysis.
On the 16th (local time), Brianq, an analyst at on-chain analysis firm Santiment, stated, "The current average fee per transaction for Ethereum is $0.168, the lowest level in the past 5 years," and explained, "Typically, low fees are considered a precursor to a price rebound."
He added, "If the fee is below $1, it means there is low market interest, and such an environment can actually increase the possibility of a rebound."
Meanwhile, ETH is trading at $1592.17, down 1.33% from the previous day, as of 03:48 on the 17th, based on the Binance Tether (USDT) market.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
