Here's What Ethereum (ETH) Fees Can Tell Us About Price Dynamics: Analysts
This bullish rally can be a paradigm shift in Ethereum's L1/L2 ecosystem. Analysts foresee that by the year of 2026, Ethereum's L2 rollups will generate the majority of fees.
Here's how this major indicator increased in seven months in 2023. Ethereum (ETH) fees "outperformed" Ether price; bullish sign?
In the last seven months, the cumulative volume of Ethereum (ETH) fees increased by 176%. Over a similar period, the price of the second largest cryptocurrency only grew by 53%. Last time this "imbalance" was registered in 2020 after two years of the Crypto Winter.
Cryptocurrency veteran and seasoned blockchain researcher Chris Burniske posted these observations commenting on a thesis by Bloomberg Intelligence's analyst Jamie Coutts. Burniske also admitted that the correlation between these two indicators was "instructive" in previous rallies.
Read more on U.Today https://u.today/heres-what-ethereum-eth-fees-can-tell-us-about-price-dynamics-analysts
This bullish rally can be a paradigm shift in Ethereum's L1/L2 ecosystem. Analysts foresee that by the year of 2026, Ethereum's L2 rollups will generate the majority of fees.
Here's how this major indicator increased in seven months in 2023. Ethereum (ETH) fees "outperformed" Ether price; bullish sign?
In the last seven months, the cumulative volume of Ethereum (ETH) fees increased by 176%. Over a similar period, the price of the second largest cryptocurrency only grew by 53%. Last time this "imbalance" was registered in 2020 after two years of the Crypto Winter.
Cryptocurrency veteran and seasoned blockchain researcher Chris Burniske posted these observations commenting on a thesis by Bloomberg Intelligence's analyst Jamie Coutts. Burniske also admitted that the correlation between these two indicators was "instructive" in previous rallies.
Read more on U.Today https://u.today/heres-what-ethereum-eth-fees-can-tell-us-about-price-dynamics-analysts
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