Ethereum Gas Fees Plunge And Crypto Tops Financial Times, WSJ Front Pages

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Last Updated on 29 June 2021 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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Technical analysts claim that Bitcoin, the world’s biggest cryptocurrency, is now trading in a range of only $5,000, as it is stuck between a support level of $30,000 and a resistance of $35,000.

Choppy, sideways trading could therefore be the future trade strategy for a few more weeks, at least until Satoshi Nakamoto’s invention shows a decisive break above $40,000 again (or, god forbid, another drop below $30,000).

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Ethereum gas fees drop

One positive outcome from the drop in cryptocoin prices these last few weeks seems to be the subsequent lower gas fee traders have to pay on the Ethereum network.

According to reporting in Yahoo, Ethereum gas fees have now again dropped to cost-effective levels. The average transaction fee is currently slightly above $3.

Meanwhile the value of the Ethereum coin itself is above $2k again after falling to $1,800 last week. For the year, Ethereum still shows a very healthy gain.

Crypto Tops WSJ, FT Front Pages

The decision by the UK’s financial authorities to ban the world’s biggest crypto platform, Binance, from their country (a move that could possibly be followed by Japan) has made it to the front pages of global business newspapers.

Yesterday, both the front page of the Financial Times in the UK and the (business section of the) Wall Street Journal featured the news.

Binance responded by stating they would cooperate with regulators and that this ban would not affect operations:

We are aware of recent reports about an FCA UK notice in relation to Binance Markets Limited. BML is a separate legal entity and does not offer any products or services via the binance.com website.

It was positive to see that crypto prices managed to climb despite of the negative Binance news.