Santiment Predicts Imminent Altcoin Season
🏢 Analytical platform Santiment predicts the approach of an altcoin season based on low transaction fees in the Ethereum network, which are currently at a six-month low.
📉 On April 27th, the average transaction fee in Ethereum dropped to $1.12. Typically, fees peak at local highs and drop to a "resting state" during local lows.
👥 Analysts noted that historically low fees in the Ethereum network coincide with an increase in altcoin prices.
🔍 For example, in February, the Ethereum gas fee reached an eight-month high amid a surge of interest in an experimental token standard called ERC-404.
💬 "Considering that the markets have mostly retraced over the last six weeks, the lack of demand and network load might help flip ETH and related altcoins faster than many expect," Santiment stated.
🗳 Do you believe that an altcoin season is just around the corner? Vote with reactions:
🤩 — looking forward to alt pump in the next month or two
😎 — there won't be an alt season this year
🌚 — I'm indifferent about alts
