Krutika Adani
Private transactions account for 30% of all Ethereum transactions and 50% of ETH block space. This is better for Ethereum since these private transactions pay a higher gas fee.
A 99% drop in ETH gas prices since March 2024 could be the most critical factor driving ETH adoption.
ETH's growth might be sustained in the future as the blockchain gains strong regulatory support and witnesses high demand from retail and institutional buyers.
Barring the Grayscale outflows and a 140k ETH options expiry this weekend, ETH has little resistance to its growth.
At press time, ETH had crossed $2600 and now trades at $2684. As a direct impact of this network growth, we expect ETH to cross $3000.