Krutika Adani
Since 22nd June, the Ethereum gas price has remained low at 1 Gwei for three days in a row. This was the lowest point for Gas fees in the last two years.
Bitcoin shares a similar fate. Low fees have caused miners to struggle with revenue, which has plummeted to a two-month low.
The low fee scenario has led to a spike in Ethereum's price, while it may result in a price decline for Bitcoin.
The low fee on Ethereum spiked its active addresses, which are now at a three-month high.
With miner-led Bitcoin sales at a high, a low-fee scenario would lead to further BTC sales.