Analyst: ETH/BTC has closed lower on 78% of trading days, Ethereum is being re-priced as a "gas fee token"

Crypto analyst Checkmate posted on the X platform, stating that the ETH/BTC trading pair has been in a decline for 78% of trading days. Ethereum is being repriced and returning to its core demand attribute as a "gas fee token".

Checkmate said: "Think about the total amount of gas fees you've consumed throughout your entire crypto market career, then compare it with the historical high level of tokens you hold. Even for those who have barely dabbled in cryptocurrency, the tokens you may hold are likely 10 to 100 times the actual gas fee demand."