Ethereum Gas Fees Hit Six-Month Low, Indicating Potential Altcoin Surge: Santiment

Gas fees on the Ethereum network have experienced a significant drop to their lowest levels in six months, even as the price of Ether saw a slight rally over the weekend.

Analysts from crypto analytics platform Santiment suggest that this decline in gas fees could be a signal for an upcoming altcoin rally.

According to Santiment’s post on X, the average fee for an Ethereum transaction fell as low as $1.12.

The platform explained that transaction fees often follow cycles of investor sentiment, swinging between extreme optimism and pessimism.

Gas Fees Drop During Market Bottoms

Gas fees tend to peak during market tops and then decline to lower levels during market bottoms.

Earlier this year, gas fees on Ethereum reached an eight-month high in February due to a surge in interest for the experimental ERC-404 token standard. 

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