{"id":135835,"date":"2024-08-20T11:00:00","date_gmt":"2024-08-20T08:00:00","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=135835"},"modified":"2024-08-20T01:31:31","modified_gmt":"2024-08-19T22:31:31","slug":"ethereum-gas-fees-reach-new-low-as-eth-price-struggles","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/ethereum-gas-fees-reach-new-low-as-eth-price-struggles\/","title":{"rendered":"Ethereum Gas Fees Reach New Low as ETH Price Struggles"},"content":{"rendered":"<p>A new <strong><a href=\"https:\/\/research.kaiko.com\/insights\/rate-cuts-unlikely-to-limit-the-appeal-of-tokenized-treasuries\" target=\"_blank\" rel=\"nofollow\">report<\/a> <\/strong>from Kaiko discusses this decline and its possible effects on <strong><a href=\"https:\/\/cryptodnes.bg\/en\/cryptocurrency\/ethereum\/\">Ethereum\u2019s value<\/a><\/strong>. Despite the introduction of Spot Ether ETFs in the US, Ethereum has experienced significant volatility.<\/p>\n<p>According to Kaiko, Ethereum\u2019s gas fees have fallen to a five-year low. This decrease is largely due to the increased use of Layer 2 solutions and the March Dencun upgrade.<\/p>\n<p>The Dencun upgrade introduced features like \u2018Blobs,\u2019 which have greatly lowered transaction costs for Layer 2 networks. As a result, networks such as Arbitrum and Base can now post data on Ethereum more cost-effectively.<\/p>\n<style>\n    .dark-mode .read-more {background-color: #343a40 !important;}\n<\/style>\n<div class=\"read-more pb-3 pt-3 pt-md-2 px-3 my-4 border bg-light\">\n    <h5 class=\"text-uppercase border-bottom mb-3 pb-1 d-none d-md-block\">READ MORE:<\/h5>\n    <a class=\"article row\" href=\"https:\/\/cryptodnes.bg\/en\/xrp-struggles-to-rally-despite-sec-settlement\/\" title=\"XRP Struggles to Rally Despite SEC Settlement\">\n        <div class=\"contentRight col-4\">\n            <span class=\"imgContainer mt-0\">\n                <img decoding=\"async\" class=\"image img-defer\" src=\"https:\/\/cryptodnes.bg\/en\/wp-content\/uploads\/sites\/2\/2022\/07\/xrp-sec-240x170.jpg\">\n            <\/span>\n        <\/div>\n        <div class=\"contentLeft col-8\">\n            <h4 class=\"title mb-0\">XRP Struggles to Rally Despite SEC Settlement<\/h4>           \n            \n        <\/div>        \n    <\/a>\n<\/div>\n<p>While the lower gas fees may seem beneficial, they come with a downside. The reduction in transaction fees means less ETH is burned, which leads to a rise in the overall supply of Ethereum. Since April, this increase in supply has been steady, raising concerns about its potential negative impact on Ethereum\u2019s price.<\/p>\n<p>Historically, Ethereum has experienced significant fluctuations in gas fees, particularly during the DeFi boom of 2021-22. The current decline in fees is part of a broader trend of decreasing network costs due to technological advancements. However, the growing supply amid factors like the Spot Ether ETF may dampen Ethereum\u2019s price gains in the short term.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum gas fees have recently dropped to their lowest level in five years, even as ETH&#8217;s price struggles to show gains.<\/p>\n","protected":false},"author":3,"featured_media":25848,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[24,23],"tags":[],"class_list":["post-135835","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoins","category-blockchain"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ethereum Gas Fees Reach New Low as ETH Price Struggles<\/title>\n<meta name=\"description\" content=\"Ethereum gas fees 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