The green light burned for this Altcoin: will the rally start?

Ethereum Blockchain’s trading fee has declined to $ 0.41, the lowest level of the last four years. This led to mixed emotions between the ETH community. Traders and investors evaluate whether this development can help the price of Altcoin to rise to $ 3,000 and above after a strong sales pressure in recent weeks.

Ethereum transaction fees fell to the lowest level of 4 years!

Popular crypto analyst Miles Deutscher said the average transaction fee in the Ethereum network has decreased to the lowest level of the last four years with $ 0.41. For the context, the trading fee was only two years ago at a high point of $ 15.21. However, important developments in the network like Dencun upgrade and others played an important role in this major wage reduction.

Source: The Block

Meanwhile, market sensitivity is divided into transaction fee drop. Popular crypto analyst Miles Deutscher asked questions about whether the ETH gas fee can rise again as alternative blockchains continue to provide reliable and scalabible transaction solutions. He added that Ethereum’s dominance in defi and NFTs decreased slightly due to competition. However, he believes that the use of the real world presence (RWA) to be toks and the larger adoption of Blockchain -based financial tools can revive the demand for ETH.

On the other hand, the Blockchain analysis company reported that low wages typically indicated that the obstruction in the network has decreased, which indicates a decrease in trade or application use. Analysts generally evaluate such periods positively for medium and long -term ETH price appearance. He also added that extremely low wages, such as those who are currently observed, tend to encourage users to return, and potentially increases the benefit of the Ethereum network and the effectiveness over time.

Source: centimeter

Is it possible to recover at the price of Altcoin?

A recent Ethereum price analysis points to a potential rally up to $ 10,000. However, the emotion decreased because Altcoin had difficulty in holding important support zones in the past. On the other hand, macro factors are not in favor of ETH. Crypto analyst Ali Martinez observed a significant change in ETH price momentum that turned positively from negative.

Source: Ali Martinez

Blockchain Analysis Platform Spotonchain reported that a large -scale investor has carried out an important Ethereum transaction. The Ethereum Whale has invested a net 23,330 ETH, worth 61.9 million dollars to Binance in the last four days. Transactions were carried out at an average price of $ 2,654 per ETH. This indicates a potential decrease on the Altcoin.

Source: Spotonchain

The only positive development is that Ethereum ETF entrances remain strong in February. These ETFs recorded an impressive net entry of $ 393 million. In addition, Blackrcok Ether ETF (ETHA) seized the leadership, leaving the capital behind the Bitcoin ETFs. According to the data of the Persian Investors, the entrances to Ethereum ETFs are now seven times higher than in January.