Ethereum Price Prediction: ETH Dips 4.1% Amid Lowest Transaction Rates in Five Years, But Consider This P2E Crypto That Can 100X
The Ethereum price has dropped 4.1% in the last 24 hours to trade at $2,574 as of 4.40 a.m. EST on trading volume that skyrocketed 76% to $15.9 billion. The second-largest cryptocurrency is still in the green on a weekly base, currently sitting about 10% higher compared to last Monday. However, its price dropped after trying to go beyond $2.7k over the weekend, as the resistance proved to be too strong. Another important development for the project concerns its transaction fees, which were recently recorded at their five-year low. The fees plummeted amidst the Layer-2 network growth, according to recent reports. What this means is that L2 networks are seeing increased activity, thus reducing the burden on the main Ethereum blockchain, and as a result, the chain is not as overclogged as before. Since the high fees are the result of too much traffic and long waiting times, reducing the amount of transactions going through the main blockchain automatically reduces the fees. Meanwhile,...