{"id":21345,"date":"2023-06-01T14:25:40","date_gmt":"2023-06-01T14:25:40","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ethereum-gas-fee-sinks-close-to-70-in-under-a-month\/"},"modified":"2023-06-01T14:25:40","modified_gmt":"2023-06-01T14:25:40","slug":"ethereum-gas-fee-sinks-close-to-70-in-under-a-month","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ethereum-gas-fee-sinks-close-to-70-in-under-a-month\/","title":{"rendered":"Ethereum gas fee sinks close to 70% in under a month"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/169738737_m_normal_none-min-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/169738737_m_normal_none-min-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/169738737_m_normal_none-min-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/169738737_m_normal_none-min-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Ethereum gas fee tanked all the way down to under $5 in May.<\/li>\n<li>BlackRock CEO Larry Fink reiterates dedollarisation as a real risk.<\/li>\n<li>Ethereum is currently down more than 10% versus its YTD high.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/coinjournal.net\/news\/tag\/ethereum\/\">Ethereum<\/a> gas fee declined by close to 70% in just under a month, data from Santiment \u2013 an on-chain data provider confirmed on Thursday.<\/p>\n<h2>Ethereum gas fee is back under $5<\/h2>\n<p>Interestingly, that said fee was seen at a year-to-date high of $14 per transaction in early May. By the end of the month, though, it tanked all the way down to under $5. The Santiment <a href=\"https:\/\/twitter.com\/santimentfeed\/status\/1664033290343555073\/photo\/1\" target=\"_blank\" rel=\"noopener\">report<\/a> reads:<\/p>\n<blockquote>\n<p>More affordability encourages more utility. Additionally, crypto\u2019s number 2 asset is at an all-time low 9.9% on exchanges as selfcustody reigns.<\/p>\n<\/blockquote>\n<p>Earlier this week, strategists at JPMorgan <a href=\"https:\/\/www.forbes.com\/sites\/digital-assets\/2023\/05\/31\/jpmorgan-reveals-900-billion-gold-based-implied-bitcoin-price-alongside-an-ethereum-upgrade-prediction-warning\/?sh=617df4be2010\" target=\"_blank\" rel=\"noopener\">warned<\/a> that Ethereum could see a sell-off in the coming months following its recent Shanghai upgrade that shifted the Ethereum network to a more energy efficient proof-of-stake.<\/p>\n<p>ETH is currently down over 10% versus its year-to-date high.<\/p>\n<h2>Could Ethereum surge in coming months?<\/h2>\n<p>On the flip side, though, there are catalysts that could push Ethereum up moving forward as well. For one, <a href=\"https:\/\/coinscreed.com\/blackrock-ceos-caution-on-positive-outlook-for-bitcoin.html\" target=\"_blank\" rel=\"noopener\">BlackRock CEO<\/a> Larry Fink this week reiterated dedollarisation as a real risk.<\/p>\n<blockquote>\n<p>The United States is jeopardising its reserve currency status with U.S. debt ceiling drama. There will be pockets of problems, like the commercial real estate.<\/p>\n<\/blockquote>\n<p>The recent banking crisis has also shaken confidence in the fiat currencies. That has also pushed many to crypto assets like Bitcoin and Ethereum which are seen as safer alternatives.<\/p>\n<p>In 2022, BlackRock itself <a href=\"https:\/\/www.reuters.com\/technology\/blackrock-launches-spot-bitcoin-private-trust-us-clients-2022-08-11\/\" target=\"_blank\" rel=\"noopener\">launched<\/a> a spot Bitcoin private trust for U.S. clients and also partnered with the crypto exchange Coinbase.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/ethereum-gas-fee-sinks-in-may\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Ethereum gas fee tanked all the way down to under $5 in May. BlackRock CEO Larry Fink reiterates dedollarisation as a real risk. Ethereum is currently down more than 10% versus its YTD high. Ethereum gas fee declined by close to 70% in [&hellip;]<\/p>\n","protected":false},"author":30,"featured_media":21346,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/21345"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/30"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=21345"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/21345\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/21346"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=21345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=21345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=21345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}