Ethereum’s Price Topped $ 4,000 for the First Time since May

Author & Guarantor: Elena Yefimenko

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


Over the past 24 hours, as knows, Ethereum has risen in price by 8%. The altcoin price exceeded $ 4,000 for the first time since mid-May. Cryptocurrency capitalization has increased to $ 468.6 billion. The share of Ethereum in the crypto market reaches 19.6%

The last wave of growth for Ethereum started on July 20 from $ 1.7 thousand. Since then, the value of the cryptocurrency has increased by 135%. Altcoin is moving towards an all-time high of $ 4.3 thousand, which was set on May 12.

On August 5, the London update was released on the Ethereum network, which completely changed the mechanism for calculating transaction fees. Some of the commissions that miners previously received as a reward are now burned.

Since the activation of the update, more than 183 thousand Ethereum worth $ 688.6 million have been burned in the cryptocurrency network. The average burning rate per minute is 4.37 ETH.

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