Ethereum Layer 2 Transactions Soar, Fees PlummetEthereum’s transactions are hitting record highs, leading to a significant drop in transaction fees. The average fee on the Ethereum network has reached a new low of $1.712, signaling increased efficiency and user adoption.
Key inflation data scheduled for release this week, and traders are predicting its impact on these cryptocurrencies.
Crypto NarrativesThe crypto narratives that are gaining the most traction today are memecoins, GameFi, and AI. Memecoins recorded the highest returns of 1312.6% on average across its top tokens in Q1 2024. GameFi and AI narratives also recorded significant returns. Among the large-cap AI tokens, AIOZ Network (AIOZ) led with 480.2%. In the GameFi sector, Echelon Prime (PRIME) stood out with 124.0%.
In focus: Coinbase Coinbase, the largest U.S. cryptocurrency exchange, is in focus today. Despite beating Q1 earnings expectations, COIN shares dropped as much as 4% in after-market hours. This development has put ETFs with double-digit exposure to Coinbase in the spotlight.
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