In 2023, Ethereum transaction fees have touched a yearly low, averaging just $1.15, as reported by Santiment. This significant fee reduction is a consistent trend, pointing towards enhanced network usability.
Ethereum's affordability is making it a preferred choice for users, which could uplift its market value. Recent data reveals a surge in on-chain Ethereum transactions, hitting a near-record 1,089,893 User Active Wallets (UAW).
Santiment analysts suggest such on-chain activity spikes could signal potential price rebounds, reinforcing Ethereum's market cap in upcoming months.
While other cryptocurrencies face price fluctuations, Ethereum stays strong above $1,500. Analysts in June foresaw Ethereum's potential to reach a historic $3,000 milestone, driven by its dwindling reserves on exchanges—now at a mere 1
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First found on: Ethereum Network Fees Drop to $1.15 in 2023: What This Means for the Future
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