Just now, on-chain data exploded – Ethereum's mainnet Gas fee actually fell through the floor, plummeting to 0.1 Gwei! Now transferring a payment costs ≈ 0.02 USD (about the price of two candies 😱), cheaper than many bubble tea straws.
This is not a normal update; this may be the 'switch moment' of the Ethereum ecosystem – a network that has been congested for years suddenly flows smoothly like the green light is on!
💎 Why is this able to trigger a major market movement?
1️⃣ User costs plummet, crushing mainstream L2.
Did you used to think the mainnet was expensive and went to do L2? Now the situation has reversed:
· Arbitrum transfer ≈ 0.004 USD
· Base transfer ≈ 0.03 USD
Ethereum's mainnet is even cheaper than theirs! The interaction threshold has been completely leveled, on-chain activity has already surged – silent funds may be about to move.
2️⃣ Institutions have long been secretly laying out, data doesn't lie.
· CME Ethereum futures trading volume has for the first time surpassed Bitcoin, and Wall Street bigwigs are clearly more excited about ETH volatility.
· In July, the open interest for ETH futures has surpassed BTC, and with current trading volume crushing it again, it shows that big funds are changing positions and laying in ambush.
· What's even more intense is that Wall Street guru Tom Lee (founder of Fundstrat, who has accurately bottomed multiple times) publicly supports ETH: 'After the Fusaka upgrade, expecting 20,000-50,000 USD!'
He is not just talk – his BitMine swept up 96,798 ETH in a single week, with weekly purchases soaring by 39%, accumulating over 3.72 million in hand... real money is speaking.
3️⃣ Countdown to upgrade + macro assistance
· The Fusaka upgrade will activate on December 3 (just a few days later!), directly catalyzing performance expectations.
· The global interest rate cut cycle is approaching, and the liquidity flood will inevitably flow into the crypto market – Ethereum is caught in the triple wind of technology + funds + sentiment this time.
🚀 What does zero on-chain cost mean?
The 'congestion era' has officially ended.
When the mainnet is cheaper than L2:
· DeFi, NFTs, and blockchain games will see a massive wave of experiments and innovations (interactions that couldn't be tried before can now be played casually).
· Ethereum's 'value settlement layer' status is completely established – fast and cheap, who doesn't love it?
· This may be the most critical technical groundwork before the next wave of a billion users floods in.
📈 A quiet watershed? Bull markets often sprout unnoticed.
Gas has dropped to freezing point + institutional futures explosion + countdown to upgrade + big shots all in calling orders...
These signals are powerful on their own, but now bursting together is no coincidence.
The market always turns amidst doubts, ending in FOMO.
This time, the green light has already turned on –
Cost is being pushed down endlessly, liquidity is approaching infinitely, only waiting for that spark.
(This article is only a market dynamics summary and does not constitute any investment advice. There are many on-chain opportunities, but risks are also present, please make decisions cautiously.)
