ETH Gas Fees Sink, Potentially Limiting Future Price Growth
CryptoNewsTerminal Staff19 Aug, 2024
ETH Gas Fees Sink, Potentially Limiting Future Price Growth
Analysis by blockchain firm Kaiko shows that transaction fees (gas fees) on the Ethereum network are at their lowest in five years. This decrease in gas fees has coincided with a rise in the supply of ETH, which could potentially hinder the currency's price growth. Despite positive developments such as the launch of ETH spot ETFs, the increase in ETH supply could have a negative impact on its price in the short term. The total supply of ETH has been on a steady upward trajectory since April 2023, and this trend could continue to put downward pressure on the price.
