According to all chain data, the Etherrium transaction fee has dropped to the lowest level in the last few years. At the price of ETH, what this means is:
The average fee for Ether Leeum is currently $ 0.168
SANTIMENT, a chain analysis company from a new INSIGHT post, discussed the latest trend of Ether Leeum’s average commission. As the name suggests, “average commission” is a metric that tracks the average fee amount attached by the sender of the ETH network to the transaction.
The value of this indicator is directly related to the amount of traffic covered by the blockchain. The reason for this is that the network is limited to handle transmission.
When the chain is busy, the transfer can be waited until the transfer disappears. Those who want to handle the transaction as soon as possible can attach a fee that is larger than the average, so that the validity test machine can prioritize it.
At especially high traffic, this kind of competition between users can lead to a significant level of average fees. However, if there is almost no activity, the caller has little incentives to pay attention, so the value of the metrics can be low.
Ether Lee seems to have witnessed the latter condition recently because the average commission fell.
Looks like the value of the metric has declined to a low level in recent days | Source: Santiment
As shown in the graph above, the Ether Leeum average commission has recently dropped to $ 0.168, which is the lowest since 2020. This means that the activity of the network is currently low in history.
According to the analysis company, the low commission period may not be so bad from the point of view because the low commission period can often be the priority of the cryptocurrency price.
Below is a chart that shows an example of this trend.
The past trend in the transaction fees of ETH | Source: Santiment
As shown in the graph above, the average fee for Etherrium in 2023 fell in 2023, leading to optimistic propulsions for assets. The description of this pattern may be in the fact that the low -end period can indicate the indifference of the crowd.
Historically, ETH and other digital assets tended to move in a way that contradicted the majority of expectations. This means that the lack of optimism can lead to a rebound, but excessive over -advertising can lead to a tower. In this chart, ETH’s Q1 2024 top indicates that the metrics exceed $ 15 and excessively excess.
The analyst said, “In general, the fee level of less than $ 1 is a very promising signal that the crowd is indifferent.” Remember that the fee cost is “bottom” or “top” that is guaranteed below a certain level or less. “
ETH price
At the time of writing, Ether Lee is trading about $ 1,600 over the last 24 hours.
Looks like the price of the asset hasn't moved much recently | Source: ETHUSDT on TradingView
DALL-E, Santiment.net’s main image, TradingView.com chart
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