Ethereum Mainnet Still Preferred by Traders Despite High Gas Cost

After hitting new highs, the ETH price appears to have stopped.

About 100K ETH was burned last week, which could increase supply.

Ethereum is now showing great positive momentum, in the same way that Un pois and Solana have. price of ETH has grown slowly, avoiding major drops. price, on the other hand, failed to break through the barrier levels. As a result, volume remained strong, even among bears that made a profit.

Since the cost of ETH gas remains prohibitive, several traders are exploring alternatives. Ethereum Mainnet continues to be favored by traders, as seen in up to 5 months of transactions of around $ 56K. However, they are returning to previous highs of $ 65,000.

current rally is more calculated

After reaching new highs, the ETH price seems to have stopped. Traders still believe in the upcoming Bull Run as the bears have been excluded from the deal. It seems that, unlike previous accidents, the current rally is more calculated. Since the start of the fourth quarter, the trajectory has been under full control.

second most popular cryptocurrency looks tired at press time and may consolidate for a while. Over the next few days, the price could potentially drop below $ 4,500. However, a large return to current levels could quickly lift the price above $ 5,000.

price of Ethereum (ETH) will skyrocket as ETH 2.0 advances, and recent updates suggest a positive trend. Interestingly, last week around 100,000 ETH was burned, which could increase the supply. According to CoinMarket Postcode, Ethereum’s price today is $ 4,537.27 USD with a 24-hour trading volume of $ 19,835,444,270 with a market capitalization of $ 536,274,651,005.

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