The Ethereum gas fee has recently fallen to its five-year low, which may have significant implications for the price of ETH. This decrease in transaction costs comes even as the Spot Ether ETF trading begins in the US market.
A report from Kaiko emphasizes the importance of this drop in gas fees. Lower gas fees could mean more user activity on the Ethereum network, potentially leading to increased demand for ETH, which could affect its price.
However, despite these potentially positive implications, ETH is still struggling to trade in the green. This suggests that other market factors may be influencing the cryptocurrency’s performance, making the overall outlook more complex.
