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    Ethereum price exceeded $4000

    Ethereum price exceeded $4000

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    The value of the largest by capitalization altcoin continues to recover after the market collapse. In May, the cryptocurrency peaked at $4.3 thousand.

    Ethereum rose in price by 8%. The value of the altcoin exceeded $4,000 for the first time since mid-May. The cryptocurrency capitalization increased to $468.6 billion, according to CoinGecko. Ethereum's share of the crypto market reached 19.6%. The last wave of Ethereum growth began on July 20 at $1,700. Since then, the cryptocurrency's value has increased by 135%. Altcoin is moving towards a historical high of $4,300, which was set on May 12.

    On August 5, the Ethereum network released an update to London, which completely changed the mechanism for charging transaction fees. Some of the commissions that miners used to receive as rewards are now burned off. More than 183,000 Ethereums worth $688.6 million have been burned on the cryptocurrency network since the update was activated, according to ultrasound.money. The average burn rate per minute is 4.37 ETH.

    RBC


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