Altcoin has risen in price by 8% per day, its market capitalization exceeded $ 514 billion
On Friday, October 29, the Ethereum rate on the Binance crypto exchange updated its historic maximum, rising above $ 4.4 thousand. As of 9:40 Moscow time, altcoin is trading at $ 4.3 thousand, over the past day it has risen in price by 8%. Capitalization of the asset exceeded $ 514 billion, and its market share reached 18.8%.
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, 669.4 thousand ETH worth $ 2.9 billion have been burned, according to ultrasound.money. The average burning rate at the moment is 5.5 ETH per minute, worth $ 23.8 thousand.