ETH Network Activity Metrics Fail To Provide Bullish Signals

IconCryptoNewsTerminal Staff29 Aug, 2024

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ETH Network Activity Metrics Fail To Provide Bullish Signals

Ethereum Network Activity Metrics Lack Bullish Signals for ETH Price According to a report by Cointelegraph, Ethereum (ETH) network activity metrics have not provided bullish signals for the price of ETH. The report notes that both Ethereum network transaction count and transaction fees have declined since August 22. Additionally, ETH spot exchange inflows have remained lackluster. The average transaction fee on the Ethereum mainnet has hit its lowest level ever, indicating a decrease in network usage. The increase in dApp transaction volume has also failed to have any meaningful impact on the price of ETH. These metrics suggest that the Ethereum network is not experiencing significant growth or activity, which could be a bearish sign for the price of ETH.

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