Ethereum (ETH) gas fees dropped to $1.12 per transaction on April 27, a level previously visited on October 18. This could hint at a historical buy signal as cryptocurrency analysts point out gas fees as bottom and top indicators.
In particular, the leading Santiment analyst Brian Q shared an insight on the platform, studying gas fees’ correlation to price. ETH was trading at $3,300 per token by press time.
“Traders historically move between sentimental cycles of feeling that crypto is going “To the Moon” or feeling that “It Is Dead”, which can be observed through transaction fees. These fees will tend to peak (and sometimes diverge) around price tops, and go back to its resting state around price bottoms.”
– Brian Q for the Santiment

Additionally, the DTCC listed Franklin Templeton’s Ethereum spot ETF, sparking a price surge for ETH this weekend.
Bitcoin recently reached an all-time high above $100 in average network fees, a peak of bullish sentiment with the halving. However, fees are back to lower levels as bearish sentiment started dominating investors’ minds.
A recent “important notice” by the DTCC could be the cause for this shift, as reported by Finbold on April 27. The financial entity will no longer recognize the collateral value for cryptocurrency-based ETFs, threatening a massive sell-off from institutional investors. This can potentially affect expectations regarding the Ethereum spot ETF.
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Solana Co-founder Raj Gokal recently took a firm stance against the skepticism surrounding meme coins. Moreover, slyly targeted Ethereum founder Vitalik Buterin while defending meme coin projects. Also, he attached Buterin’s picture to the post to make his stance bold and clear.
Solana Co-Founder Takes Aim At Vitalik Buterin
In a post on X, Gokal emphasized the importance of embracing the diverse usage of permissionless systems, despite concerns from traditionalists. “Meme coins are scaring away serious builders,” Gokal wrote, highlighting the community sentiment amid the growth of such projects. However, he swiftly followed up with a pointed reminder targeted at Buterin.
He stated, “May I remind you about the ‘serious builder’ who set all of this work in motion?” In addition, the attached blurry picture of Vitalik Buterin served as a not-so-subtle nod to Ethereum’s co-founder.
Meanwhile, Gokal’s statement appeared to defend the enthusiasm surrounding meme coins. The Solana founder also suggested that those who dismiss such trends may struggle to thrive in the fast-paced world of cryptocurrency innovation. “If you’re fragile enough to get spooked by how young people choose to use permissionless systems to have fun, you will quite simply not make it here,” he remarked.
The post is indicative of the ongoing rivalry between Solana and Ethereum, two prominent blockchain networks competing for dominance in the decentralized finance (DeFi) space. However, Buterin hasn’t responded to Gokal yet, leaving room for further discussions around the topic.
Also Read: Crypto Market Selloff: $70B Liquidated As Bitcoin, SOL, XRP, SHIB Prices Fell
Meme Coin Builders Are Seriously Competent
In a recent statement, Lily Liu, President at the Solana Foundation, has come forward to support meme coin founders, echoing sentiments expressed by Gokal. Liu emphasized the competence of many meme coin founders, stating that they are “seriously competent builders.” #Metaverse #Solanawallet #solana