• bitcoinBitcoin (BTC) $ 97,502.00
  • ethereumEthereum (ETH) $ 3,398.18
  • tetherTether (USDT) $ 0.999740
  • xrpXRP (XRP) $ 2.26
  • bnbBNB (BNB) $ 667.78
  • solanaSolana (SOL) $ 185.92
  • dogecoinDogecoin (DOGE) $ 0.327122
  • usd-coinUSDC (USDC) $ 1.00
  • staked-etherLido Staked Ether (STETH) $ 3,392.21
  • cardanoCardano (ADA) $ 0.921691
  • tronTRON (TRX) $ 0.245726
  • avalanche-2Avalanche (AVAX) $ 38.67
  • chainlinkChainlink (LINK) $ 22.88
  • wrapped-stethWrapped stETH (WSTETH) $ 4,018.74
  • the-open-networkToncoin (TON) $ 5.35
  • suiSui (SUI) $ 4.64
  • shiba-inuShiba Inu (SHIB) $ 0.000022
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 97,056.00
  • stellarStellar (XLM) $ 0.361933
  • polkadotPolkadot (DOT) $ 7.10
  • hyperliquidHyperliquid (HYPE) $ 32.16
  • hedera-hashgraphHedera (HBAR) $ 0.257031
  • wethWETH (WETH) $ 3,398.13
  • bitcoin-cashBitcoin Cash (BCH) $ 453.91
  • leo-tokenLEO Token (LEO) $ 9.28
  • uniswapUniswap (UNI) $ 13.49
  • litecoinLitecoin (LTC) $ 100.91
  • pepePepe (PEPE) $ 0.000018
  • wrapped-eethWrapped eETH (WEETH) $ 3,584.78
  • nearNEAR Protocol (NEAR) $ 5.17
  • bitget-tokenBitget Token (BGB) $ 4.24
  • ethena-usdeEthena USDe (USDE) $ 0.999972
  • aptosAptos (APT) $ 9.92
  • usdsUSDS (USDS) $ 0.999364
  • internet-computerInternet Computer (ICP) $ 10.47
  • aaveAave (AAVE) $ 308.44
  • crypto-com-chainCronos (CRO) $ 0.162504
  • polygon-ecosystem-tokenPOL (ex-MATIC) (POL) $ 0.483744
  • mantleMantle (MNT) $ 1.19
  • ethereum-classicEthereum Classic (ETC) $ 26.50
  • vechainVeChain (VET) $ 0.046776
  • render-tokenRender (RENDER) $ 7.31
  • mantra-daoMANTRA (OM) $ 3.80
  • moneroMonero (XMR) $ 193.14
  • whitebitWhiteBIT Coin (WBT) $ 24.43
  • bittensorBittensor (TAO) $ 467.08
  • daiDai (DAI) $ 1.00
  • fetch-aiArtificial Superintelligence Alliance (FET) $ 1.30
  • arbitrumArbitrum (ARB) $ 0.765497
  • ethenaEthena (ENA) $ 1.07
  • kaspaKaspa (KAS) $ 0.122706
  • filecoinFilecoin (FIL) $ 5.07
  • fantomFantom (FTM) $ 1.02
  • algorandAlgorand (ALGO) $ 0.338828
  • okbOKB (OKB) $ 45.42
  • virtual-protocolVirtuals Protocol (VIRTUAL) $ 2.68
  • cosmosCosmos Hub (ATOM) $ 6.70
  • blockstackStacks (STX) $ 1.72
  • ondo-financeOndo (ONDO) $ 1.73
  • optimismOptimism (OP) $ 1.82
  • bonkBonk (BONK) $ 0.000032
  • immutable-xImmutable (IMX) $ 1.39
  • celestiaCelestia (TIA) $ 5.08
  • movementMovement (MOVE) $ 1.00
  • theta-tokenTheta Network (THETA) $ 2.21
  • injective-protocolInjective (INJ) $ 21.17
  • binance-peg-wethBinance-Peg WETH (WETH) $ 3,394.35
  • coinbase-wrapped-btcCoinbase Wrapped BTC (CBBTC) $ 97,571.00
  • the-graphThe Graph (GRT) $ 0.212387
  • dogwifcoindogwifhat (WIF) $ 2.01
  • pudgy-penguinsPudgy Penguins (PENGU) $ 0.029798
  • sei-networkSei (SEI) $ 0.434753
  • worldcoin-wldWorldcoin (WLD) $ 2.25
  • thorchainTHORChain (RUNE) $ 5.15
  • kelp-dao-restaked-ethKelp DAO Restaked ETH (RSETH) $ 3,496.32
  • first-digital-usdFirst Digital USD (FDUSD) $ 0.999070
  • rocket-pool-ethRocket Pool ETH (RETH) $ 3,791.46
  • flokiFLOKI (FLOKI) $ 0.000173
  • jasmycoinJasmyCoin (JASMY) $ 0.034027
  • quant-networkQuant (QNT) $ 112.15
  • gatechain-tokenGate (GT) $ 12.93
  • tokenize-xchangeTokenize Xchange (TKX) $ 20.05
  • mantle-staked-etherMantle Staked Ether (METH) $ 3,576.27
  • lido-daoLido DAO (LDO) $ 1.73
  • galaGALA (GALA) $ 0.036693
  • flare-networksFlare (FLR) $ 0.027690
  • lombard-staked-btcLombard Staked BTC (LBTC) $ 97,705.00
  • makerMaker (MKR) $ 1,651.64
  • beam-2Beam (BEAM) $ 0.027693
  • fasttokenFasttoken (FTN) $ 3.32
  • usual-usdUsual USD (USD0) $ 0.999882
  • the-sandboxThe Sandbox (SAND) $ 0.575503
  • kucoin-sharesKuCoin (KCS) $ 11.29
  • pyth-networkPyth Network (PYTH) $ 0.375681
  • nexoNEXO (NEXO) $ 1.35
  • kaiaKaia (KAIA) $ 0.225023
  • tezosTezos (XTZ) $ 1.29
  • solv-btcSolv Protocol SolvBTC (SOLVBTC) $ 97,336.00
  • based-brettBrett (BRETT) $ 0.130826
  • raydiumRaydium (RAY) $ 4.43
  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 3,493.70
  • eosEOS (EOS) $ 0.820334
  • heliumHelium (HNT) $ 6.93
  • binance-staked-solBinance Staked SOL (BNSOL) $ 189.94
  • ethereum-name-serviceEthereum Name Service (ENS) $ 35.40
  • aerodrome-financeAerodrome Finance (AERO) $ 1.62
  • jupiter-exchange-solanaJupiter (JUP) $ 0.845221
  • xdce-crowd-saleXDC Network (XDC) $ 0.076478
  • flowFlow (FLOW) $ 0.720855
  • starknetStarknet (STRK) $ 0.488048
  • arweaveArweave (AR) $ 16.45
  • bitcoin-svBitcoin SV (BSV) $ 53.78
  • iotaIOTA (IOTA) $ 0.300029
  • aioz-networkAIOZ Network (AIOZ) $ 0.936272
  • dydx-chaindYdX (DYDX) $ 1.48
  • bittorrentBitTorrent (BTT) $ 0.000001
  • msolMarinade Staked SOL (MSOL) $ 231.73
  • curve-dao-tokenCurve DAO (CRV) $ 0.824395
  • coredaoorgCore (CORE) $ 1.10
  • neoNEO (NEO) $ 14.26
  • axie-infinityAxie Infinity (AXS) $ 6.32
  • elrond-erd-2MultiversX (EGLD) $ 34.89
  • matic-networkPolygon (MATIC) $ 0.484090
  • solv-protocol-solvbtc-bbnSolv Protocol SolvBTC.BBN (SOLVBTC.BB) $ 96,598.00
  • decentralandDecentraland (MANA) $ 0.482460
  • arbitrum-bridged-wbtc-arbitrum-oneArbitrum Bridged WBTC (Arbitrum One) (WBTC) $ 96,962.00
  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 3,397.19
  • pendlePendle (PENDLE) $ 5.18
  • apecoinApeCoin (APE) $ 1.17
  • fartcoinFartcoin (FARTCOIN) $ 0.841190
  • zcashZcash (ZEC) $ 52.84
  • eigenlayerEigenlayer (EIGEN) $ 3.85
  • jito-governance-tokenJito (JTO) $ 2.96
  • mog-coinMog Coin (MOG) $ 0.000002
  • akash-networkAkash Network (AKT) $ 3.22
  • chilizChiliz (CHZ) $ 0.086496
  • ai16zai16z (AI16Z) $ 0.707527
  • l2-standard-bridged-weth-baseL2 Standard Bridged WETH (Base) (WETH) $ 3,399.96
  • conflux-tokenConflux (CFX) $ 0.161052
  • wormholeWormhole (W) $ 0.272911
  • usddUSDD (USDD) $ 0.999772
  • spx6900SPX6900 (SPX) $ 0.803233
  • popcatPopcat (POPCAT) $ 0.754660
  • mina-protocolMina Protocol (MINA) $ 0.614888
  • compound-governance-tokenCompound (COMP) $ 82.37
  • jupiter-staked-solJupiter Staked SOL (JUPSOL) $ 198.97
  • arbitrum-bridged-weth-arbitrum-oneArbitrum Bridged WETH (Arbitrum One) (WETH) $ 3,398.06
  • roninRonin (RON) $ 1.92
  • pancakeswap-tokenPancakeSwap (CAKE) $ 2.41
  • superfarmSuperVerse (SUPER) $ 1.57
  • havvenSynthetix Network (SNX) $ 2.05
  • ecasheCash (XEC) $ 0.000035
  • gnosisGnosis (GNO) $ 266.94
  • dog-go-to-the-moon-runeDOG•GO•TO•THE•MOON (Runes) (DOG) $ 0.006802
  • chiaChia (XCH) $ 21.22
  • binance-peg-dogecoinBinance-Peg Dogecoin (DOGE) $ 0.327869
  • ether-fi-staked-btcEther.fi Staked BTC (EBTC) $ 96,585.00
  • dydxdYdX (ETHDYDX) $ 1.48
  • amp-tokenAmp (AMP) $ 0.007901
  • axelarAxelar (AXL) $ 0.754931
  • notcoinNotcoin (NOT) $ 0.006462
  • zksyncZKsync (ZK) $ 0.178770
  • tether-goldTether Gold (XAUT) $ 2,631.24
  • fraxFrax (FRAX) $ 0.995519
  • peanut-the-squirrelPeanut the Squirrel (PNUT) $ 0.635359
  • layerzeroLayerZero (ZRO) $ 5.68
  • mantle-restaked-ethMantle Restaked ETH (CMETH) $ 3,583.69
  • chex-tokenCHEX Token (CHEX) $ 0.624365
  • terra-lunaTerra Luna Classic (LUNC) $ 0.000113
  • reserve-rights-tokenReserve Rights (RSR) $ 0.011319
  • grassGrass (GRASS) $ 2.47
  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 3,675.96
  • baby-doge-coinBaby Doge Coin (BABYDOGE) $ 0.00000000
  • vanaVana (VANA) $ 18.78
  • turboTurbo (TURBO) $ 0.008509
  • safeSafe (SAFE) $ 1.10
  • super-oethSuper OETH (SUPEROETHB) $ 3,397.02
  • usualUsual (USUAL) $ 1.19
  • oasis-networkOasis (ROSE) $ 0.083481
  • cat-in-a-dogs-worldcat in a dogs world (MEW) $ 0.006281
  • ordinalsORDI (ORDI) $ 26.55
  • echelon-primeEchelon Prime (PRIME) $ 10.84
  • blurBlur (BLUR) $ 0.264555
  • 1inch1inch (1INCH) $ 0.391138
  • beldexBeldex (BDX) $ 0.078923
  • trust-wallet-tokenTrust Wallet (TWT) $ 1.30
  • susdssUSDS (SUSDS) $ 1.02
  • paypal-usdPayPal USD (PYUSD) $ 0.999883
  • bitcoin-avalanche-bridged-btc-bAvalanche Bridged BTC (Avalanche) (BTC.B) $ 97,405.00
  • pax-goldPAX Gold (PAXG) $ 2,623.84
  • creditcoin-2Creditcoin (CTC) $ 1.26
  • pumpbtcpumpBTC (PUMPBTC) $ 96,936.00
  • apenftAPENFT (NFT) $ 0.00000052
  • livepeerLivepeer (LPT) $ 14.07
  • goatseus-maximusGoatseus Maximus (GOAT) $ 0.510954
  • gigachad-2Gigachad (GIGA) $ 0.052224
  • dexeDeXe (DEXE) $ 8.72
  • arkhamArkham (ARKM) $ 1.50
  • frax-etherFrax Ether (FRXETH) $ 3,342.96
  • true-usdTrueUSD (TUSD) $ 1.00

Ethereum fees plummet 70% while self-custody soars

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Ethereum fees plummet 70% while self-custody soars

In line with the general sentiment on the wider cryptocurrency market, the price of Ethereum (ETH) has somewhat stalled, but declining network fees indicate there is room for optimism as the lower entry threshold could facilitate more convenience and utility.

As it happens, average Ethereum fees have returned to their normal levels after skyrocketing to the yearly high of $14 per ETH transaction in early May, recently dropping to $4.28 per transaction, according to the data shared by crypto analytics platform Santiment on June 1.

Indeed, these results demonstrate a decline of 69% from only 25 days ago, when the meme coin hype, triggered by the launch and massive success of the Pepe (PEPE) token, had forced Ethereum and Bitcoin (BTC) network fees to soar.

Ethereum fees plummet 70% while self-custody soars

As the Santiment team further explained, the plummeting transaction fees are a good sign for a broader Ethereum network adoption, accessibility, usage, and engagement, as “more affordability encourages more utility.”

Rise of self-custody

At the same time, the percentage of Ethereum supply on crypto exchanges has dropped to a new all-time low of 9.9% under the influence of the self-custody trend amid security concerns around crypto trading platforms, as well as a lack of regulatory clarity over whether ETH is a security or commodity.

In late March, Finbold reported on the previous record low supply of Ethereum on exchanges, which at the time stood at 10.31%, which meant that nearly 90% of ETH was held away from exchanges but also suggested the high level of confidence from hodlers.

Ethereum price analysis

As things stand, Ethereum is currently changing hands at the price of $1,864.04, recording a decline of 0.21% on the day but a 4.46% gain across the previous week and a 1.69% increase on its monthly chart, according to the latest data retrieved on June 1.

Ethereum fees plummet 70% while self-custody soars

In addition to a record-low supply on exchanges, it is also worth mentioning that Ethereum has recently reached another important milestone as users have deposited more than 4.4 million ETH since April 12, surpassing $40 billion in deposit contract balance following the Shanghai upgrade.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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