The cost of making transactions on the Ethereum network has significantly decreased to just $2.07, a notable decline from the $15.21 observed on March 4th during a period of high demand.
This reduction in transaction fees reflects the cyclical nature of market sentiment in the cryptocurrency space, often characterized by phases of exuberance and pessimism, which are mirrored in transaction fee fluctuations. Typically, transaction fees peak around price tops and revert to lower levels during market bottoms.
???? #EthereumRețeaua lui costă doar 2.07 USD pentru a face o tranzacție, foarte departe de cei 15.21 USD pe care i-a costat pe 4 martie, când cererea era excesiv de mare. Din punct de vedere istoric, piața se mișcă între cicluri sentimentale de sentiment că cripto se duce „Pe Lună” sau sentimentul că „Crypto... pic.twitter.com/OKjhmHnYQE
- Santiment (@santimentfeed) Aprilie 18, 2024
Token Terminal data reveals that the Ethereum blockchain generated a profit of $369.08 million in Q1 2024 through transaction fees paid in ETH for interacting with applications on the network.
This demonstrates the substantial economic activity and utility of the Ethereum ecosystem, despite fluctuations in transaction costs.
🚨 RUPTĂ: Blockchain-ul Ethereum a generat un profit de 369.08 milioane USD în T1 '24.
Stai ce?!
Cum poate un *blockchain* să-i placă @ethereum sa fie profitabil?
Să trecem prin modelul de afaceri al lui Ethereum pas cu pas:
1. Taxe. Toți utilizatorii blockchain-ului Ethereum plătesc taxe de tranzacție în ETH... pic.twitter.com/gHAoNbRf48
- Terminal Token (@tokenterminal) Aprilie 18, 2024
Ethereum Price Rises As Whales Accumulate More
In the past 24 hours, the price of Ethereum has experienced a 3.5% increase, signaling positive momentum in the market.
Responding swiftly to geopolitical news, a whale capitalized on Israel’s attack on Iran by investing $9.516 million USDT to purchase 3,253 ETH at an average price of approximately $2,925, strategically timing the purchase around the local price bottom.
This whale acted fast on the news of #Israelatacul lui asupra #Iran earlier today and spent 9.516M $ USDT pentru a cumpăra 3,253 $ ETH at ~$2,925 around the local bottom.
Now, the whale is making $625K (+6.57%) in unrealized profit.
Remember to stay informed about current social and political… pic.twitter.com/yOpU335yIY
— Spot On Chain (@spotonchain) Aprilie 19, 2024
As a result of this timely investment, the whale is now enjoying an unrealized profit of $625,000, representing a 6.57% increase in value. This demonstrates the potential for astute investors to capitalize on market events and fluctuations to generate profitable returns in the cryptocurrency space.
Overall, the decrease in Ethereum transaction costs, coupled with the network’s profitability and positive price momentum, reflects a dynamic and resilient ecosystem that continues to attract investor interest and participation.
Dezvăluire: Acesta nu este un sfat de tranzacționare sau de investiții. Cercetați-vă întotdeauna înainte de a cumpăra orice criptomonedă sau de a investi în orice serviciu.
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Sursa imagine: stevanovicigor/123RF // Efecte de imagine de Colorcinch
Source: https://nulltx.com/ethereum-transaction-costs-drop-as-market-sentiment-shifts/