Ethereum's (CRYPTO:ETH) average transaction fee has plummeted to $1.12, marking the lowest level since October 18th.
Fluctuations in transaction fees often mirror sentiment cycles in the crypto market, with peaks indicating bullish fervor and troughs signaling bearish sentiment.
The recent decrease in fees, coupled with market retracement over the past six weeks, suggests reduced network strain and waning demand, potentially paving the way for a turnaround in Ethereum and associated altcoins sooner than anticipated.
Tracking fee trends can provide valuable insights into market sentiment and potential price movements.