Ethereum network fees are falling in 2023. As revealed by blockchain intelligence platform Santiment, the cryptocurrency has witnessed a significant drop in network fees, reaching an all-time low of 2023 – a mere $1.15 per transaction.
This historic decline is not only a breather for users, but also a harbinger of a possible increase in the utility of digital currency. The Santiment pointsbased on previous data, that reductions in transaction fees have been a prelude to increases in Ethereum’s market value.
🤑 #Ethereum network fees have dropped to 2023 lowest level of just $1.15 per transaction. Historically, we have seen utility begin to increase as $ETH becomes more affordable to circulate. Increased utility can then lead to recovery in market capitalization levels.
At the time of publication, the price of ETH was quoted at US$1,591.48, up 0.2% in the last 24 hours.
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