ETH Just Hit A 2-Year High, The Fees Are At An All Time High

The ETH news today show that Ethereum rallied in the last hours of Thursday and managed to post new highs. In fact, ETH just hit a 2-year high and a level which was last seen in August 2018, while the transaction fees of the coin reached a new all-tie high.

At press time, ETH is trading at $426 and is up by more than 7% compared to yesterday and around 8% in a week. All of this helped the coin to increase its monthly gains to 74% as of now. You can see a detailed price chart illustrating the rise below, courtesy of CoinPaprika.

While the cryptocurrency news show a lot of increases today, the most popular digital asset Bitcoin (BTC) is up by 1.5% in a day, reaching a price of $11,753. Even though BTC is down by almost 1% this week, it is still up by 26% in a month.

The BTC dominance, or percentage of the total market capitalization, also slipped further today and reached 58.
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2% of the level last seen in June 2019. Other coins were also prominent and as ETH just hit a new 2-year high, coins like Chainlink have been also doing well on the market.

According to data from Google, there is interest in both BTC and ETH as of lately. Meanwhile, the median ETH transaction fees hit a new all time high yesterday too, going parabolic and reaching $3.35 according to data from BitInfoCharts.com. Previously, the all time high was reached in January 2018, when it briefly touched $3.14.

Currently, Ethereum is pushing higher in the crypto news and updates. We can see that its rally may be only starting and a lot of new increases should come if this momentum continues. What’s also worth mentioning is the fact that all of the top 10 coins are in the green. As BTC crossed the $11,700 mark and ETH just hit a 2-year high, Ripple’s XRP token also rose to $0.29 and Bitcoin Cash (BCH) is at $296, preparing to breach the $300 mark if the upsides continue.

In general, August has been a great month for cryptocurrencies and the market. Investors know this – they just should not rush out to take their profits and potentially cause another selloff.