First Mover: Ethereum Faces Inflation Problem as Gas Fees Soar
We’re trying out a few new things with our daily markets newsletter, front-loading the biggest price jumps, refining our big story, and adding two new sections: Token Watch, with the latest developments in altcoins, and Analogs, which highlights how traditional markets are interacting with crypto. It doesn’t help that gas prices are denominated in prices for ether (ETC), the native token of the Ethereum blockchain – since ether’s price, as denominated in dollars, has tripled this year to about $390.
Median Ethereum Gas Price, by day, last 90 days.Source: Dune Analytics Tweet of the day Price Point Bitcoin has erased the dip to $11,300 seen early on Thursday, possibly tracking a continued recovery in gold. Bitcoin Watch Bitcoin’s options market is skewed bullish despite bearish developments on the short-term technical charts.
