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CandyDrop
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According to the blockchain intelligence platform Santiment, network fees for $ETHEREUM$ (ETH) have dropped to their lowest levels for 2023, falling to just $1.15 per transaction. In the post, Santiment shared that historical drops in Ethereum’s network fees have led to increased utility, which subsequently resulted in the leading altcoin’s market cap rising.
Meanwhile, CoinMarketCap indicated that ETH recorded a 24-hour gain of 0.20%. As a result of the latest increase, the altcoin was changing hands at $1,594.40 at press time. The positive daily performance was, however, not enough to overcome ETH’s decline over the past 7 days. Consequently, ETH was still down 2.58% on the weekly timeframe.