Ethereum News: ETH Transaction Fees Drop to Two-Year Low, Sparking Price Explosion Speculation

Ethereum Price Prediction: Ethereum Fees Drop to $0.41 – Will This Spark a Price Explosion?

Ethereum (ETH) is back in the spotlight as the market shows signs of recovery, gaining 4.5% over the past week. Adding to the momentum, ETH transaction fees have dropped to just $0.40 – the lowest since July 2020. This reduction in costs could provide the push needed for ETH to break past the $3,000 mark and beyond. Meanwhile, Bitcoin could also get a potential boost with the emergence of PlutoChain ($PLUTO), which introduces smart contracts to Bitcoin, paving the way for deeper DeFi integration and expanding its real-world use cases beyond the current transactional one.

Ethereum Price Faces Pressure, Testing Key Support at $2,200

Ethereum has been experiencing significant downward pressure as the ongoing bear market intensifies. The cryptocurrency has seen a substantial drop, falling below the $2,400 mark to trade at $2,337, marking a nearly 6.4% decrease in 24 hours. Ethereum has formed consecutive bearish candles, pushing its value down nearly 20% from around $2,800 to its current price. This drop has caused Ethereum to breach the 23.6% Fibonacci retracement level at $2,665, a critical technical level.

Ethereum Foundation Donates $1.25m to Legal Defense of Tornado Cash Developer

The Ethereum Foundation (EF) has announced a $1.25 million donation to support the legal defense of Tornado Cash developer Alexey Pertsev, who is appealing his money laundering conviction in the Netherlands. This donation is the first big act of the new EF head, Aya Miyaguchi. The donation follows a similar $1.25 million contribution by Paradigm co-founder Matt Huang to support Pertsev’s counterpart, Roman Storm.

Who is Aya Miyaguchi? New Ethereum Foundation Head

Aya Miyaguchi (宮口あや) is a respected figure in the crypto space, known for her roles at the Ethereum Foundation. The news came today that she transitioned from her position as Executive Director since 2018 to become the President of the foundation with the aim to potentially stabilize its price. Miyaguchi’s journey is inspiring, blending educational roots, traditional finance, and a commitment to DeFi.