- Whale unstaked 17.875 million ENA hinting at a major price pump ahead.
- This happened just as Ethereum’saverage gas fees fell to $0.04.
- The five-year low hints at Ethereum activity falling, will ETH price hit a new ATH anyway?
The Ethereum network and community celebrate average gas fees dropping to a five-year low of about $0.04 per transaction. So far, the Ethereum network has gone through many updates to try and resolve the issue of the network’s exuberant gas fees. The price reaching a 5-year low seems to be a remarkable feat.
ETH Average Gas Fees Reaches Five-Year Low
However, comments to the post announcing the reduction say otherwise. The most frequent response for ETH’s fallen gas fee price is being attached to a possible fact that activity on Ethereum is falling which leads to a negative view on the future of the blockchain and the price of ETH. Perhaps this fall in use is why ETH price has yet to set a new ATH this bull cycle.
Some analysts believe that the peak of the altseason has been delayed due to Ethereum’s inability to set a new ATH this cycle while others believe ETH’s new ATH will trigger this bullish altseason phase. Leaning to the latter viewpoint, many analysts are accumulating ETH in hopes of seeing explosive gains ahead.
Whale Unstaked 17.875 Million ENA
Likewise, Ethereum-linked altcoins and crypto assets could also pump exponentially if ETH price pumps parabolically. As we can see from the post above seismic whale activity is spotted for Ethena (ENA), a protocol built on Ethereum. As we can see from the post above a huge amount of ENA has been unstaked hinting at expectations of a bullish pump soon.
