The value of the largest altcoin by capitalization has risen by 7% against the background of a new maximum of bitcoin above $ 66 thousand.
On October 20, the Ethereum rate on the Binance crypto exchange exceeded $ 4,000 for the first time since the beginning of September. Altcoin has risen sharply in price, while Bitcoin has updated its historical maximum value at around $ 66.6 thousand. Ether capitalization exceeded $ 476 billion with daily trading volumes of $ 18 billion, according to CoinGecko.
The latest wave of growth in the value of bitcoin started after the first exchange-traded fund (ETF), based on bitcoin futures of the Chicago Mercantile Exchange (CME Group), began trading in the United States on October 19. The Bitcoin Strategy ETF from ProShares is listed under the ticker BITO on the New York Stock Exchange (NYSE).
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, 581,000 ETH worth $ 2.3 billion have been burned, according to ultrasound.money. The average burning rate at the moment is 5.3 ETH per minute, worth $ 21.2 thousand.