Ether Could Hit $3,000 as Soaring Network Activity Turns Token Deflationary

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Ether Could Hit $3,000 as Soaring Network Activity Turns Token Deflationary
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Krisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.

broke out from its downtrend and could head towards $3,000 as the recent altcoin frenzy revitalized network activity, Markus Thielen, research head of Matrixport, noted in a

Ethereum's weekly revenue – which is the income from the network's transaction fees, also known as gas – recently rose above $30 million for two consecutive weeks, up from a yearly low of $12 million hit in early October,

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