Ethereum (ETH) is currently trading at $2,690 with a 2% gain, as transaction fees have spiked 498% in the past 10 days. ETH is struggling to regain the $2,817 support level.
On-chain activity has caused transaction fees to surge, with the average fee rising from $0.09 to $1.69.
Daily ETH burns increase by over 900% to 2,097 ETH, signaling deflationary pressure and possible price increase.
Ethereum ETFs saw net outflows, while BlackRockâs ETHA and Fidelityâs FETH took in $15.3 million and $15.9 million, respectively.
đȘ ETH is struggling to hold the $2,707 level, with the RSI and momentum indicators showing bullish signals.
