Ethereum and Altcoins Associated With ETH May Witness Rallies Sooner Than Expected, According to Santiment

　　Crypto analytics firm Santiment thinks that Ethereum (ETH) and altcoins related to the top smart contract platform will leave many traders on the sidelines.

　　Santiment says it is keeping a close eye on Ethereums average transaction fee, which nosedived to its lowest level since October 18th, 2023.

　　According to the analytics firm, the slumping gas fee is a solid signal that Ethereum is in the midst of carving a local bottom.

　　Source: Santiment/X

　　At time of writing, Ethereum is trading for $3,218, up over 13% from its April low of $2,832.

　　Looking at altcoins operating in the Ethereum ecosystem, Santiment notes that a couple of coins are already showing signs of strength.

　　Source: Santiment/X

　　At time of writing, Lido DAO (LDO) is trading for $2.15 while Rocket Pool ETH (RETH) is worth $3,547.

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