Ethereum reaches the new ATH, but transaction costs are also critically high

Ethereum reaches the new ATH, but transaction costs are also critically high
  • The second most popular cryptocurrency in the world today has reached a new all-time high and growth does not seem to be ending.
Today is an extremely successful day for the cryptocurrency Ethereum, as it rewrites history in terms of its value.

After seeing the $ 2K price tag at Ethereum for the first time on February 20, a more significant correction followed, and the price dropped again at the end of the month, up to $ 1,322. From that moment on, the consolidation process began in the ETH market, which lasted more than a month, and only today are we witnessing a re-awakening in the form of ATH.

Ethereum Chart

As you can see on the chart, the market is not cooling down yet and it is highly probable that the measured maximum of $ 2,087.08 will not be the last and the price will continue to rise at least until the next day.

In this situation, however, it is also necessary to point out the cost of the network, which is still characterized by disproportionately expensive gas fees.

Ethereum Gas Tracker

At the time of writing, the average cost of an ERC20 transfer is around $ 30, but for Uniswap transactions it is almost $ 100.

Read also: Costly Ethereum gas fees will be a thing of the past in the digital marketplace for crypto collectibles and NFTs OpenSea

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