The average gas fee on the Ethereum network was $1.13, the lowest level since November 2022. Some analysts believe that the native cryptocurrency of Ethereum (ETH). It may form a bottom similar to the one in late 2022 based on on-chain data. According to a post by analytics firm Santiment. The average fee level on the Ethereum network this week reached $1.13. It is the lowest level since November 2022, when Ethereum bottomed at $1,100. Analysts noted that this is “by no means an ideal signal.” However, they acknowledged that lower toll costs “generally lead to a recovery in prices.” When ETH fell to its lowest levels in 2022. The coin did not rise above $2,157 before May 2023. However, there are no direct indications that this scenario can be replaced. Last week, Ethereum rose 1.26%. The coin is trading at $1,637, according to CoinMarketCap data. Despite the solidity, Ethereum trading volume has declined over the past 24 hours. It fell 12.2% to $4.6 billion. On Wednesday, October 4, about 110,000 Ethereum (worth approximately $181 million) were transferred from trading platforms, making it the largest outflow day since August 21, 2023. With the latest outflow. The number of ETH coins exiting exchanges has now reached an all-time high of 115.8 million ETH (about $190 billion). While the trading platform's supply is at "its lowest levels in approximately 5.5 years."#ETH #BTC #Layer2 #ETH