Ethereum price $2,504 as the base fee drops to a sixth: will the $2,495 level hold?

The information provided in this article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments carry a high degree of risk. Always conduct your own research.Ethereum traded at $2,504 on Sunday afternoon, with the daily range down to 0.63 percent. More telling than the chart is the block data: the base fee is 0.0673 gwei, a sixth of the weekly average, and the burn now offsets just 0.49 percent of new issuance.The Ethereum price stood at $2,504 on Sunday afternoon, or 2,237 euros. Over 24 hours that is a move of three dollars, 0.15 percent. The real movement this time sits in the block data rather than the chart: the base fee per unit of gas, the minimum price every Ethereum transaction has to pay, averaged 0.0673 gwei over the past 24 hours. Across the past seven days the average was 0.4210 gwei. The network is running at a sixth of last week's price. There are two sides to that if you hold ether. Sending ether costs a fraction of a cent today, so whoever already planned to move holdings off an exchange and into their own wallet is paying about as little as they ever will. At the same time the network's ether consumption, which norm...