Ethereum Hits Resistance at $2,550 as Derivatives Volume Surges

Ethereum is gearing up to test its resistance level at $2,550 as derivatives volume surges to $66.99 billion, a 68.76% increase.

The growing momentum comes amid higher participation in derivatives and notable on-chain activity from the Ethereum Foundation, which recently moved approximately $2.45 million worth of ETH to an unlabeled Gnosis Safe.

Transaction fees on Ethereum have also fallen sharply, decreasing from $0.72 to $0.095, reaching the lowest levels recorded this year. This decline is attributed to lower mainnet demand and upgrades improving the handling of network activity.