The value of the largest altcoin by capitalization again exceeded $ 4.7 thousand. On November 10, it peaked above $ 4.8 thousand.
Over the past day, Ethereum has risen in price by 7%, to the current level of $ 4.7 thousand.The cryptocurrency is growing for the fifth day in a row after its price dropped to $ 4 thousand on November 27.Since then, the value of the largest altcoin in terms of capitalization has increased by 17.5% …
Ethereum is approaching its all-time high set on November 10. Then the cost of the cryptocurrency at the moment reached $ 4.86 thousand. As a result, the share of the asset in the market exceeded 20%, while the share of bitcoin dropped to 38.7%.
Meanwhile, the number of Ethereum tokens on crypto exchanges dropped to a new low. According to an analyst at CryptoQuant , the percentage of altcoin offered on trading floors dropped to 14% of the total supply. It is believed that long-term investors who do not plan to sell it in the near future are withdrawing cryptocurrency from exchanges.
On November 24, the number of Ethereum burned exceeded 1 million ($ 4.7 billion, taking into account the current exchange rate at 9:40 Moscow time on December 1), according to the ultrasound.money service. The altcoin burn process began on August 5 following the London update, which changed the mechanism for calculating transaction fees. Part of the commissions that miners previously received as rewards are now burned.