Ethereum (ETH) Gas Fees Decrease, Digital Asset Investments Inflows Go Up

Ethereum Gas

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Ethereum (ETH) Gas Fees Decrease, Digital Asset Investments Inflows Go Up

 In total, digital asset investment products attracted over US$64 million in inflows over the last week. However, most of these were allocated to short-bitcoin investment products. In addition to the US, small flows were also seen in other countries such as Canada, Switzerland, and Brazil. These countries had total inflows of around $20 million, according to Coinshares.

 According to analysis from real-time DeFi explorer AnalytEx, after 11 weeks of outflows, Ethereum received $5 million in inflows last week, which broke the outflows’ 11-week streak. The gas price of Ethereum was around 65.94 gwei in May and 55.26 in June. From May 1 to May 31, the number of Ethereum transactions was 34,961,397, and from June 1 to June 30, the number was 31,087,190. It represents a decrease of 8% in the average daily transactions.

In June, the price of Ethereum gas did not reach a significant peak. This was only slightly higher than during the day on June 13, when the total market capitalization of the major cryptocurrency fell below $1 trillion. On that day, the number of transactions on the network increased by 10%.

Meanwhile, the price of gas on the platform increased by 148%.The whales started buying assets on the Ethereum network during the panic sale and general decline. A total of $75 million worth of assets were purchased, of which $50 million was in wBTC.

In the crypto world, Gas is an essential factor that determines how profitable a transaction is. Ethereum gas fees vary according to market pricing but ETH gas fees are still on the rise. The only way to reduce these costs is to use less ETH due to their flexible nature.

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