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😱🔥Santiment gave the good news: Is the altcoin rally coming?
The Ethereum network had its cheapest day in more than six months, which may signal that the rise in altcoins may come sooner than many expected.
The Ethereum network had its cheapest day in more than six months, which may signal that the rise in altcoins may come sooner than many expected.
Gas charges on the Ethereum network hit a six-month low, despite the ETH price showing one over the weekend, and analysts at crypto analysis firm Centiment said that these developments could be an upcoming altcoin rally. According to a post by Centiment dated April 28, the average fee for an Ethereum translation on April 27 dropped to $ 1.12.
“Investors historically move between emotional cycles, such as feeling that the crypto is ‘rising’ or feeling that it is ‘Decaying’, which can be observed with transaction fees,” said #santiment
Centiment stressed that wages tend to peak at the peaks of the local market and decline to resting low levels around the market bottoms. Gas fees on Ethereum reached an eight-month high in February amid a wave of interest in the ERC-404 standard.
The popular crypto analysis platform suggested that low gas charges could indicate an increase in Ethereum network activity in the future and signal the beginning of an altcoin rally.
With the markets largely retreating over the past 6 weeks, the lack of demand and pressure on the network may help ETH and related altcoins return sooner than many expect.”
In the light of the CoinGecko data, the Ether price gained 4.3 percent last week and registered a slight increase.
On April 27, the local tokens of the Ethereum layer-2 networks Optimism, Arbitrum and Polygon accounted for three of the top five Decently performing assets among the top 50 cryptocurrencies by market capitalization, gaining 11.7, 3.5 and 2.8 percent, respectively.
