Ethereum Transaction Fees Drop to $0.41, Indicating Token Price May Grow Soon

ETH transaction fees drop 19% in 6 months. It is the lowest in the last 3 years. Now, the network wouldn’t be congested. More traders will flock i, and prices might also grow in the long run!   

Great news for Ethereum investors. Since 2024, this is the lowest ETH transaction fee by far.  The current price is just $0.41/transfer. Santiment, the specialist in on-chain analytics, confirms the same. At the start of 2024, the transaction fee was $15.21. So, this sharp fee droop could mean ETH is planning something big!  

Most traders feel it is a cautious move by ETH to mark a journey of gradual price growth.  

Impact of Fee Drop  

When fees are this low, it means that the congestion in the network would be rather low. Hence, new traders will find it easy to enter the network. Often, lower transaction fees collide with episodes where the coin’s price is also low for a stretch.  

In the same way, higher prices indicate hyperactivity over the network. Often, that collides with price rallies or an increase in the use of dApps.  

It Happened In The Past, Too  

The historical fee pattern of ETH suggests that a drop in fees before has been followed by price recovery.  

Do you think- it’ll be the same this time? When asked this question, 3 out of 5 YouTube crypto experts said that there are higher chances that buying interest might grow around ETH soon. As the network becomes more user-friendly, chances are that a lot of new users will be onboarded, too.  

Let’s recall the episode from August 2024. A similar drop in the transaction fees, then accompanied by sharp price growth!  

ETH Supply Also Plummetting  

As of writing the news piece, only 6.38% of ETH supply remains on centralized exchanges only. It has never been this low. It means that the investors are not willing to sell off the tokens they hold. They want to hold on and observe the direction in which the market grows!