Ethereum transaction fees have dropped to just $0.168, marking their lowest point in five years. This is because there is less competition for transactions on the network due to fewer users. Transaction processing costs decrease as the number of active traders decreases.
Its price increased by roughly 0.73% to $1,593.10 despite the reduced fees. Still, it has dropped 15% in the last month. Experts are keeping a close eye on whether the decline in activity will continue or if the reduced fees will attract more users.
Because fewer people are trading or using its apps, its users are migrating. Transactions have decreased as a result. Global issues, such as recent tariff announcements, are causing anxiety among members, according to experts. Others believe that investors are holding back as a result of the price decline.
Some experts remain optimistic despite the lack of activity. They think that letting go could eventually result in significant changes. A strong comeback could be possible if small investors hold back.
ETH price is currently trading at $1,593.10, showing a 0.73% increase. Over the past week, it gained 0.28%, but it’s still down 15% over the last month. Its market cap is $192.28 billion, which makes it the second-best coin in the market.
At the same time, Ethereum’s 24-hour trading volume rose by 7.93%, reaching $14.16 billion. Analysts and investors alike are feeling more upbeat as a result of this increase, which has contributed to a more hopeful outlook for ETH in the months ahead. Many people are now optimistic that this pattern will hold true and that Ethereum's growth may pick up speed in the future.
Ethereum intends to launch "Pectra," a significant update, on May 7, 2025. Important problems like high petrol prices and sluggish transactions will be resolved by this update. Pectra will increase the staking limits for institutions, double the data capacity for layer-2 solutions, and enable members to pay petrol fees using stablecoins such as USDC or DAI. More people might join the network as a result of this.
Pectra's Phase Two will concentrate on enhancing scalability and storage later in 2025. It might become faster and less expensive as a result of these modifications, drawing in more developers and users.
The Pectra upgrade, set for May 7, 2025, could be a game-changer for Ethereum. It aims to fix problems like high gas fee and network congestion while adding features like stablecoin fee payments and higher staking limits. If it works as planned, it could attract more developers, institutions, and members to the network. With the current low fees and increasing trading volume, Ethereum might be preparing for a strong comeback soon.
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Mohit Raghuwanshi is an Indian journalist working at Coin Gabbar’s news desk, passionately following the ever-evolving crypto market. With a keen interest in blockchain technology and digital assets, he delivers in-depth reports on industry trends, regulations, and market movements. He holds a bachelor's degree in Journalism and Mass Communication and previously worked as a content writer at a PR agency, honing his skills in crafting compelling narratives and analyzing financial markets.
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