Ethereum [ETH] traders can consider these metrics to price in FED's decision
The king of altcoins has been struggling to gain its momentum and get back to its feet. In fact, thecommunity is beginning to react to the Fed meeting and gross domestic product release.
Despite the hyperinflated returns, traders held a negative bias and were convinced it would lose momentum. Then, from the peak of $1,640, ETH crashed down to $1,400.Well, to assess traders’ enthusiasm, one can have a look at the ‘Average Fees’ for transactions metric. This can mean that market participants aren’t feeling the fear of missing out on low fees. It indicates diminishing courage in the Ethereum community.Another prominent metric is the Ethereum supply on exchanges. The overall supply on exchanges has been increasing on a clockwork scale since early May 2022.
Recently, a sharp rise of 500k ETH was added to exchanges suggesting traders’ further loss of faith in Ethereum.On the other hand, to get clarity about the general market picture, one can consider the metric of MakerDAO debt repaid.
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