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Ethereum transaction fees hit a five-year low recently, lowering the burn of Ether, per Kaiko research report. The validator that processes transactions receives a tip of gas fees from all transactions in the block. The base fees are then burned and permanently removed from circulation to help reduce the supply of Ether. With gas fees dipping to a low, less and less Ether is being burned, leading to an increase in the altcoin’s supply since April. Despite demand drivers like institutional capital inflow to Exchange Traded Funds (ETFs), rising supply has the potential to dampen ETH’s price in the near future. Bitcoin and XRP prices broke sticky resistance levels at $60,000 and $0.60, respectively. The two cryptocurrencies rallied on Tuesday amidst a market-wide recovery supported by an increased appetite for risk. The top 30 cryptocurrencies by market capitalization yielded gains in the past 24 hours, according to CoinGecko data. Chart of the day NEAR NEAR/USDT daily chart NEAR is in a downward trend since the March 15 top of $9.010. The token trades at $4.113 at the time of writing, extending gains by nearly 3% on Tuesday. If momentum holds, NEAR could rally another 30% towards the Fair Value Gap (FVG) extending between $5.373 and $5.395. NEAR faces resistance at $4.279, which acted as a key support level for the token between February and August and the FVG between $4.450 and $4.572. The Relative Strength Index (RSI) reads 43.80, climbing towards the neutral level at 50. NEAR could sweep liquidity in the imbalance zone between $3.430 and $3.655, as seen in the NEAR/USDT chart above.

Ethereum transaction fees hit a five-year low recently, lowering the burn of Ether, per Kaiko research report. The validator that processes transactions receives a tip of gas fees from all transactions in the block. The base fees are then burned and permanently removed from circulation to help reduce the supply of Ether. With gas fees dipping to a low, less and less Ether is being burned, leading to an increase in the altcoin’s supply since April. Despite demand drivers like institutional capital inflow to Exchange Traded Funds (ETFs), rising supply has the potential to dampen ETH’s price in the near future. Bitcoin and XRP prices broke sticky resistance levels at $60,000 and $0.60, respectively. The two cryptocurrencies rallied on Tuesday amidst a market-wide recovery supported by an increased appetite for risk. The top 30 cryptocurrencies by market capitalization yielded gains in the past 24 hours, according to CoinGecko data. Chart of the day NEAR NEAR/USDT daily chart NEAR is in a downward trend since the March 15 top of $9.010. The token trades at $4.113 at the time of writing, extending gains by nearly 3% on Tuesday. If momentum holds, NEAR could rally another 30% towards the Fair Value Gap (FVG) extending between $5.373 and $5.395. NEAR faces resistance at $4.279, which acted as a key support level for the token between February and August and the FVG between $4.450 and $4.572. The Relative Strength Index (RSI) reads 43.80, climbing towards the neutral level at 50. NEAR could sweep liquidity in the imbalance zone between $3.430 and $3.655, as seen in the NEAR/USDT chart above.

Uniswap’s trading volume by chain provides some interesting signal amongst the growing noise on L2s — while also shining a light on Ethereum L1s continued dominance. Case & Point: 1. Ethereum L1 still controls 64% of Uniswaps trading volume. It was 72% last year. And 90% in 2022. 2. The number 1 L2 in terms of Uniswap volume? Arbitrum. It commands an 18.6% market share today (up slightly from 18.4% in ‘23 (2.5% in ‘22). 3. The number two L2? Base. Base has a 6% market share today. 4. Which chains are losing market share of Uniswap volume? Polygon has 4.6% today (5.3% in ‘22). All other chains are growing market share except for ETH L1. Uniswap has to share economics with all of these chains (MEV, transaction fees, etc.) But that's all changing now. Today Uniswap announced "Unichain" on Optimism. A move that integrates their product suite and allows them to control more of the value chain. The market seems to like the move as it's up 12% on the news. Data: Uniswap trading volume by chain powered by Token Terminal

Ethereum price struggled to clear the $3,650 resistance as ETH started another decline and there is now a risk of more dips below the $3,420 support. Ethereum started a fresh decline below the $3,550 support zone. The price is trading below $3,540 and the 100-hourly Simple Moving Average.

ETH next significant resistance zone around $4,540: What does this mean? Ethereum (ETH) has struggled to break past the $4,000 resistance level despite recent price gains. Analysts suggest ETH has a clear path to new all-time highs, with the next significant resistance zone around $4,540. On-chain metrics like the Pi Cycle Top indicator and exchange reserves suggest bullish momentum, but some bearish signals persist. Indicators such as the NUPL and RSI hint at potential short-term corrections, even as long-term trends remain optimistic. The MA Cross indicator supports bullish sentiment, with the 9-day moving average above the 21-day moving average. Ethereum’s Journey Toward $4,000: A Persistent Struggle Ethereum has been battling to […] https://lnkd.in/gqUzaqeb

Ethereum - Ethereum bull flag tells investors to prepare for upcoming gains - https://lnkd.in/dS64x9ia Ethereum's recent bull flag pattern indicates a potential price rally, suggesting investors should prepare for potential gains. ETH price consolidation and increasing buying pressure highlight

Could Ethereum Reach $4,900? Insights from TradingView News - https://lnkd.in/dfA2VaBX After a crucial week for Ethereum, a technical candlestick deal shows that ETH prices could be set for a strong rally in the coming weeks and months. Noting the events on the monthly chart, one analyst notes that the ETH/BTC ratio is reversing from a multi-year support trend line.

ETH surges 9% with increased capital inflows, bulls set sights on $4,522 - https://lnkd.in/gHqbywEh Ethereum is seeing high capital inflows amid a 15% ETH/BTC ratio growth. ETH's open interest and futures premium show high bullish sentiment among traders. Ethereum could rally to $4,522 if it