Ethereum Gas Fees Plunge And Crypto Tops FT, WSJ Front Pages

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Technical analysts claim that Bitcoin, the world’s biggest cryptocurrency, is now trading in a range of only $5,000, as it is stuck between a support level of $30,000 and a resistance of $35,000.

Choppy, sideways trading could therefore be the future trade strategy for a few more weeks, at least until Satoshi Nakamoto’s invention shows a decisive break above $40,000 again (or, god forbid, another drop below $30,000).

Ethereum gas fees drop

One positive outcome from the drop in cryptocoin prices these last few weeks seems to be the subsequent lower gas fee traders have to pay on the Ethereum network.

#Ethereum #cryptocurrency on the up and up. https://t.co/MGsXijIoM9

— Everyday I Decay (@EverydayIDecay) June 28, 2021

According to reporting in Yahoo, Ethereum gas fees have now again dropped to cost-effective levels. The average transaction fee is currently slightly above $3.

Meanwhile the value of the Ethereum coin itself is above $2k again after falling to $1,800 last week. For the year, Ethereum still shows a very healthy gain.

Crypto Tops WSJ, FT Front Pages

The decision by the UK’s financial authorities to ban the world’s biggest crypto platform, Binance, from their country (a move that could possibly be followed by Japan) has made it to the front pages of global business newspapers.

Good morning frens. Crypto at the front of the finance section of the journal pic.twitter.com/7VcYLhawPP

— Frank Chaparro (@fintechfrank) June 28, 2021

Yesterday, both the front page of the Financial Times in the UK and the (business section of the) Wall Street Journal featured the news.

Binance banned from UK 🇬🇧

Frontpage
Financial Times USA 🇺🇸
June 28, 2021#Binance #crypto #cryptocurrency #financialtimes #Newspaper #news #breakingnews #uk #britain pic.twitter.com/TklMu2La4W

— Ro₿erto ☆ (@roblengyel85) June 28, 2021

Binance responded by stating they would cooperate with regulators and that this ban would not affect operations:

We are aware of recent reports about an FCA UK notice in relation to Binance Markets Limited. BML is a separate legal entity and does not offer any products or services via the binance.com website.

The FCA UK notice has no direct impact on the services provided on https://t.co/QILSkzx7ac.

Our relationship with our users has not changed. (3/4)

— Binance (@binance) June 27, 2021

It was positive to see that crypto prices managed to climb despite of the negative Binance news.