The ETH/BTC trading pair experienced a notable surge of 38% from a five-year low, driven by rising demand, reduced sell pressure, and accumulation through exchange-traded funds (ETFs). This movement has raised expectations for the potential onset of an altcoin season. Concurrently, Ethereum gas fees have seen a substantial decline, dropping from $0.09 to an ultra-low $0.03. This reduction in transaction costs is attributed to decreased network congestion and is expected to benefit developers and decentralized finance (DeFi) users by making on-chain activity more affordable. Additionally, Ethereum's market share increased by 22.69% last week before stabilizing, reflecting typical patterns observed after market rallies. Bitcoin remains relatively stable in the $103,000 to $105,000 range, while Ethereum continues a 16% rally. These developments underscore shifting dynamics in the cryptocurrency market, with Ethereum gaining prominence relative to Bitcoin and other assets.
โก๏ธTODAY: Ethereum gas fees drop to just $0.03. https://t.co/UariNugX6c
๐ LATEST: Ethereum's market share surged 22.69% last week before stabilizing, echoing historical patterns of post-rally dominance decline. Think $ETH about to wipe out its gains versus $BTC and the broader market? https://t.co/NyLZURXyhK
ETHEREUM $ETH GAS FEES DROP TO $0.03