Crypto Blog
Ethereum’s network fees have plunged to some of their lowest levels, with this week recording an average of $1.13, a price last seen in November 2022.in a post on X that while the latest discovery may not be a perfect signal, it could indicate that ether is preparing for a price rebound.Santiment disclosed that the last time Ethereum gas fees went below $1.15, ETH experienced a price bottom, which eventually corrected and led to a rise in utility.
The crypto market intelligence platform’s disclosures come as the amount of ETH outside exchanges hits an all-time high. Ethereumits largest outflow day since August 21 on Wednesday as approximately 110,000 ETH worth roughly $181 million found their way out of crypto exchanges.
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