Low Ethereum Gas Fees Suggest Investors are Holding Strong Despite Turbulence
Some believe that this recent downtrend has marked an end to the bull run that many digital assets have been seeing as of late, with tokens within the Ethereum-based DeFi sector being particularly hard hit by this recent downturn. Because low gas fees signal that demand for Ethereum blockspace is also low, the analyst concludes that this signals that DeFi investors are holding strong and not offloading their holdings just yet.
Ethereum and DeFi Sector Hit Hard by Recent Bitcoin Selloff Bitcoin has been sending shockwaves throughout the entire crypto market throughout the past few days and weeks, with the cryptocurrency’s decline from highs of $12,400 to lows of $9,900 striking a blow to its uptrend. Low ETH Gas Fees Suggest the Bottom May Be Nearing Despite the recent weakness seen by Ethereum and DeFi tokens, one prominent analyst believes that low gas fees suggest that the bottom may be nearing.
