Santiment: Ethereum network gas fees fall to 6-month low, may indicate a rebound in altcoins

According to BlockBeats, on April 29, crypto analysis company Santiment said that the average handling fee level of the Ethereum network has dropped to only $1.12 per transaction, the lowest average daily cost since October 18, 2023. Traders switch between emotional cycles, sometimes feeling that the cryptocurrency will "fly to the moon" and sometimes feeling that it is "dead", which can be observed through transaction fees. These fees tend to peak at the top of the price (sometimes diverging) and return to a static state at the bottom of the price. In the case of a market retracement in the past 6 weeks, insufficient demand and network pressure may help reverse the situation of ETH and related altcoins faster, which may exceed many people's expectations.