Network Costs Are Crashing Hard 🖤
The avg fee for sending eth dropped to like 0.095 from that high of 0.72 back in april per santiment data. This dip happened cuz mainnet demand chilled out in the bear summer but upgrades like fusaka plus higher blob throughput and that 60 million gas limit boosted capacity big time while layer 2s hog all the tx action that used to fight for mainnet space. Cheaper gas could pull in more users and devs tho for swaps transfers defi plays stablecoin moves plus erc20 stuff at a fraction of the old cost. Cheap fees dont always mean demand is pumping again but they knock down one of eths biggest old hurdles and with price recovered this setup looks way nicer for projects building on it.Price Might Eye A Rebound 🕷️
Ali martinez spotted eth stuck in a tight 4 hour channel even with all the volatility and its at the lower edge now so 2570 is the next spot to watch for a push higher toward the channel middle then top. A solid close above 2570 with volume could spark the breakout to 2700 then maybe 3000. The long investor still sees it as a buy even after that near 45 percent run the last 3 months saying grab some before it clears 3000 to stay ahead of everyone else plus the 200 week ma looks solid long term.Exchange Supply Keeps Shrinking ✨
Less eth sitting on exchanges is fueling the comeback with only 6.06 million left now down from 22.9 million at the june 2020 high for a 73 percent drop in liquid supply. That means more is getting staked into etfs treasuries and long term holds while validators lock it up to secure everything. Lower available coins can make any buying waves hit harder even without huge demand spikes. 💀🕸️🌙💉Just another echo from the void by iconofsin.eth 💖
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