While the cryptocurrency market is looking for growth momentum, Ethereum is sending negative signals in the short term. Transaction fees on the Ethereum network have just dropped to around $0.17 – the lowest level since 2020. This is not a positive sign, but rather a reflection of reality: the number of people transferring ETH and using smart contracts is sharply declining, as investors are cautious in light of recent economic fluctuations.
The decrease in fees is not due to technical improvements, but rather a decline in actual usage – a clear sign that Ethereum is lacking momentum in the short term. The network, once regarded as the "backbone" of DeFi and NFT, is currently seeing lower usage than expected.
🔜 Pectra is about to upgrade, but is the market not ready?
Ethereum is expected to deploy the upgrade #pectra on May 7, bringing a series of improvements such as:
Double the capacity for layer-2 solutions.
Allow payment of fees in stablecoins.
Increase the staking limit to 2,048 $ETH .
However, with the current market sentiment, these upgrades may not be enough to immediately boost demand, especially as investors are awaiting macroeconomic stability before returning.
📌 Conclusion: #Ethereum is entering a lull phase, with low transaction fees clearly reflecting a decline in demand. In the short term, ETH may continue to face pressure if there is no new cash flow or a significant rebound from the ecosystem. Investors need to closely monitor signs of recovery after the Pectra upgrade to reassess their positions.
⚠️ Risk warning: The crypto market is always highly volatile and not suitable for everyone. This article is market analysis, not investment advice. #anhbacong