Bitcoin Faces Troubles While Ethereum Users Rejoice as Fees Plummet in Both

Krutika Adani

Ethereum Fees Crashes to 1 Gwei

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 Miners Struggling

Bitcoin shares a similar fate. Low fees have caused miners to struggle with revenue, which has plummeted to a two-month low.

Good for Ethereum, Bad for Bitcoin

The low fee scenario has led to a spike in Ethereum's price, while it may result in a price decline for Bitcoin.

Ethereum Users Rejoice

The low fee on Ethereum spiked its active addresses, which are now at a three-month high.

Would Miner-led BTC Selling Intensify?

With miner-led Bitcoin sales at a high, a low-fee scenario would lead to further BTC sales.