According to Golden Finance, crypto analyst Checkmate posted on X platform that ETH/BTC trading pairs have been in a downward state for 78% of trading days. Ethereum is repricing, returning to its core demand attributes as a "gas fee token". "Think about the total amount of gas fees you consume throughout your crypto market career and compare it to the all-time highest level of holding that token. Even those who have little to no cryptocurrency, the tokens you may have are 10 to 100 times the actual gas fees you need," Checkmate said.