Ethereum's price has dropped by 22% despite recent network upgrades aimed at improving efficiency and reducing transaction fees. The increase in gas limit has boosted transaction capacity, but the market remains bearish, with investors shifting focus to blockchains like Solana with lower fees and higher throughput.
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Ethereum will struggle to maintain dominance as it approaches adversarial competition from other Layer-1 blockchains. Thus, while the changes are relatively basic, more struggle for Ethereum’s price may be expected until the general market environment becomes stable again. Two issues that will be of specific interest to investors include whether the new gas limit extension holds any long-term benefits for Ethereum and its usability as well as for the fees associated with the same.
ETHEREUM GAS LIMIT TRANSACTION FEES BLOCKCHAIN MARKET SENTIMENT
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