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Ethereum Hits 2-Year High, ETH Fees at All-Time High, Bitcoin Dominance Slips

By Linas Kmieliauskas
Ethereum Hits 2-Year High, ETH Fees at All-Time High, Bitcoin Dominance Slips 101
Source: Adobe/ronnarong

Ethereum (ETH), the 2nd largest cryptoasset by market capitalization, rallied in the last hours of Thursday, reaching a level last seen in August 2018, while transaction fees reached a new all-time high.

At pixel time (03:53 UTC), ETH trades at USD 421 and is up by 7% in a day and 6% in a week, increasing its monthly gains to 74%.

ETH price chart:

Ethereum Hits 2-Year High, ETH Fees at All-Time High, Bitcoin Dominance Slips 102
Source: coinpaprika.com

At the same time, the most popular cryptocurrency, bitcoin (BTC), is up by 1.5% in a day, reaching USD 11,753. Its price is down by almost 1% in a week but is still up by 26% in a month. Also, BTC dominance, or percentage of the total market capitalization, slipped further today, reaching 58.2%, or the level last seen in June 2019.

Other coins from the top 10 advanced up to 3.6%, while cardano (ADA) and binance coin (BNB) are unchanged in a day. The total market capitalization is up by 2%, to USD 372bn.

Meanwhile, the median ETH transaction fee hit a new all-time high yesterday, going parabolic and reaching USD 3.35, according to bitinfocharts.com data. The previous all-time high was reached in January 2018, when it briefly touched USD 3.14.

Ethereum Hits 2-Year High, ETH Fees at All-Time High, Bitcoin Dominance Slips 103
Source: bitinfocharts.com

Also, Google data shows that interest in both BTC and ETH spiked yesterday.

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