On October 8, the median price of gas on the Ethereum network dropped to 6.8 gwei, the minimum level for 2023. Similar values were recorded approximately 12 months ago, according to the Dune dashboard.
At the time of writing, the metric has increased slightly – to 8.2 gwei.
The decline in the indicator occurs against the backdrop of a reduction TVL in the DeFi sector, trading in the segment of non-fungible tokens and Telegram bot activity.
According to a dashboard on Dune, weekly NFT trading volume fell to its lowest levels since the beginning of the year, around $44.5 million.
The number of active traders over the seven-day period fell to 44,500 compared to 172,000 at the beginning of January.
In October, the activity of trading bots on Telegram, which appeared in the second quarter of the year, decreased significantly compared to the peak levels in July.
As of October 12, the volume of assets blocked in the Ethereum ecosystem amounted to $19.8 billion (DeFi Llama). The figure corresponds to the levels of December 2022 and is approximately 37% lower than the April maximum of $31.5 billion.
In early September, the cryptocurrency became inflationary amid a reduction in fees. According to Ultra Sound Money, the coin’s market supply has increased by 31,940 ETH over the past 30 days.
Annual inflation for the period was 0.32%.
Recall that the head of research at Standard Chartered, Jeffrey Kendrick, predicted that the price of Ethereum will rise to $8,000 by the end of 2026.
However, K33 Research analysts concluded that traders still prefer Bitcoin.
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