The Ethereum network has seen a decrease in activity and a subsequent decline in average fees, according to data analytics firm Santiment. This comes after the FTX crash that occurred in November 2022.
The correlation between Ethereum's dwindling average fees and network traffic and transfer volumes was scrutinized, suggesting that the decrease in fees could be attributed to less network activity. The recent price alterations of Ethereum have also been linked to this decline in network usage.
However, these conclusions are considered speculative due to the inherent volatility of the cryptocurrency market. The FTX crash in November 2022 may have influenced Ethereum's network activity, but the exact impact remains uncertain due to the unpredictable nature of crypto markets.
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