Altcoin capitalization exceeded $ 560 billion.Since the end of September, the asset has risen in price by 74%
On Monday, Ethereum updated its historical maximum value above $ 4.7 thousand.Over the past day, the cryptocurrency has risen in price by 4%, and its capitalization has exceeded $ 560 billion, according to CoinGecko. The share of altcoin in the market reached 18.7% with a total valuation of digital assets of $ 3 trillion.
The last wave of growth in the Ethereum rate started on September 29. Since then, cryptocurrency quotes have risen 74%.
Last week, the largest financial derivatives market CME Group announced the launch of 1/10 Ethereum futures. Trading in the new instrument will start on December 6. The cost of the futures contract will be 0.1 ETH ($ 474 at the exchange rate as of November 8).
In early August, the London update was released on the Ethereum network, which completely changed the mechanism for calculating transaction fees. Part of the commissions that miners previously received as rewards are now burned.
Since August 5, 800,000 ETH worth $ 3.7 billion have been burned, according to ultrasound.money. The average burning rate at the moment is 5.86 ETH worth $ 27 thousand.