NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Ethereum Competitors Bolstered by High Fees, But ETH‘s Outlook Remains Strong

Cole Petersen
Cole Petersen
5 years ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

There has been a boom in demand for Ethereum in recent times, with much of this stemming from the explosive growth of the DeFi sector.

Although this demand has yet to result in any type of bullish price action, it does appear that its growing utility is bolstering its macro outlook.

That being said, the explosive rise of DeFi may actually be having an unintended side effect on Ethereum, as it has caused the cryptocurrency’s transaction fees to rocket – potentially causing its many competitors to garner greater attention.

This possibility may not be enough to stop it from seeing intense bullishness in the near-term. However, as analysts are noting that it appears to be building up some strength that could propel it higher.

Ethereum Sees Rocketing Transaction Fees as DeFi Boom Drives ETH Demand

The Ethereum ecosystem has seen a massive influx of new users over the past several days and weeks due to the rise of so-called “yield farming.”

This trend is comprised of individuals leveraging Ethereum-based tokens in order to capture DeFi incentives.

In some cases, these incentives are massive, with users harvesting yields as high as 200% per year due.

The prospect of massive returns with minimal risk has lured a massive number of new users into the Ethereum ecosystem. This has provided many DeFi-related tokens with massive upside but has not has any notable impact on ETH’s price.

One interesting byproduct of this shifting Ethereum landscape has been a rise in transaction fees. Because users transact in ETH when utilizing most DeFi protocols, the fees to send the crypto have rocketed in recent times.

Joseph Todaro – a managing partner at Blocktown Capital – explained that if fees remain at their current levels, the cryptocurrency’s many competitors may garner increased attention.

“Median txn fees on ethereum at a nearly 2 year high. If fees move higher or even maintain this level, I expect ETH competitors focused on scalability to see increased attention.”

Ethereum

Image Courtesy of Joseph Todaro

ETH’s Technical Outlook Remains Strong

Although in the near-term it is possible that Ethereum will be overshadowed by DeFi-sector tokens, this trend may not persist for too much longer.

Currently, Ethereum is trading up 2% at its current price of $243. This is around where it has been trading at for the past day and marks a notable rebound from its recent lows in the $220 region.

It is important to note that it is still stuck within its long-held trading range between $230 and $250.

One analyst explained that he believes Ethereum is strong at the moment and will push higher before facing any resistance.

“ETH not looking weak, holding the topside of a previous range against BTC. Ultimately holding 238 on the low time frames is bullish even if we get a pullback. I think we tag 250 before any reset.”

Image Courtesy of Cantering Clark. Chart via TradingView
Featured image from Shutterstock.

Charts from TradingView.
Tweet123Share213ShareSend
Cole Petersen
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Ethereum

Echoes Of 2020: Ethereum Signals Possible Bullish Rally After Reclaiming $2,600

Ethereum (ETH) has recently experienced a significant resurgence, reaching a three-week high of $2,600 after a notable spike on Wednesday....

Ronaldo Marquez 1 day ago
Ethereum, ETH, Crypto

Ethereum Eyes Key Resistance As Price Reclaims $2,550 – Here Are The Levels To Watch

Ethereum (ETH) has surged 7.5% in the daily timeframe to break above a key resistance level for the first time...

Rubmar Garcia 1 day ago
Ethereum Price Stagnates as On-Chain Data Shows Whale Accumulation

Ethereum Price Stagnates as On-Chain Data Shows Whale Accumulation

Ethereum continues to exhibit limited upward price movement despite earlier gains last week. Over the past seven days, the asset...

Samuel Edyme 1 day ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Ethereum Price Gathers Strength

Ethereum Price Gathers Strength — Bulls Prepare for Upside Extension

Aayush Jindal 9 hours ago

Ethereum Liquid Staking Hits New ATH With 35.5 Million ETH Locked – Will Price Follow?

Ash Tiwari 10 hours ago
Ethereum Looks Strong Despite Volatility – $10,000 Price Target Gains Momentum

Ethereum Looks Strong Despite Volatility – $10,000 Price Target Gains Momentum

Sebastian Villafuerte 15 hours ago

Premium Sponsors

Press Releases

  • Dự Đoán Giá Fartcoin: Meme Coin Tiềm Năng FARTCOIN...

    3 hours ago
  • CertiK Validates FUNToken’s

    CertiK Validates FUNToken’s Smart Contract Strength With...

    3 hours ago
  • Explore Potential Coins

    Peter Thiel của PayPal Hậu Thuẫn Ngân Hàng Crypto...

    4 hours ago
  • Altcoin season uitgesteld? Bitcoin dominantie houdt kapitaal weg van XRP, SOL en ADA

    Những Altcoin Nên Mua Tháng 7 – USELESS, BROCCOLI...

    4 hours ago
  • Cloud Mining

    Free QFSCOIN Cloud Mining Regulated By US Law Launches BTC...

    4 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.