Analyst: ETH/BTC has closed lower on 78% of trading days, Ethereum is being re-priced as a "gas fee token"
Crypto analyst Checkmate posted on the X platform, stating that the ETH/BTC trading pair has been in a decline for 78% of trading days. Ethereum is being repriced and returning to its core demand attribute as a "gas fee token".
Checkmate said: "Think about the total amount of gas fees you've consumed throughout your entire crypto market career, then compare it with the historical high level of tokens you hold. Even for those who have barely dabbled in cryptocurrency, the tokens you may hold are likely 10 to 100 times the actual gas fee demand."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
A certain whale cleared 6777 ETH, with a loss of about 1.01 million US dollars
Data: CMC Altcoin Season Index drops to 13, hitting a new low for the year
The CEO of Token Metrics stated that the US SEC will withdraw its lawsuit against them
Trending news
MoreCrypto prices
More
