Since the Shanghai upgrade, the adoption rate of Layer 2 in Ethereum (ETH) has increased significantly. This has a positive impact on its price in the long run. Over the next three months, as more users migrate to Layer 2, the network congestion on Ethereum mainnet may be alleviated, leading to a decrease in Gas fees. Lower Gas fees can attract more developers and users, thus increasing network activity. An increase in network activity often corresponds to a rise in the value of the native token, ETH. Looking at historical data, when network activity and adoption rate grow steadily, ETH price has generally shown an upward trend. Therefore, it is likely that ETH price will increase in the next three months, driven by the positive changes in Layer 2 adoption, Gas fees, and network activity.
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I just collected "Farcaster: Lion"
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📚Finished an amazing book last night. It opened my mind to new worlds. What are you reading? #BookLove #Knowledge
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