The ETH transaction fees remain high despite the recent Berlin hard fork and the latest blockchain improvements so let’s read more in our latest Ethereum news.
Many thought that the fees would be lower after the Berlin hard fork but it seems that the ETH transaction fees remain high. ETH is still in a bull run while we are waiting for three new ETF approvals in Canada to happen.
The average cost of making a transaction on the Ethereum blockchain reached $24.74 which is the highest level since February 23 when the network observed costs of over $39.49. The high transaction fees indicate there are huge amounts of activity on the ETH blockchain. The spike came one day after the Berlin hard fork as an improvement that was promised to reduce the transaction fees. The fork effects haven’t been noticed yet but they seem to be not enough to stem the inflation caused by the increasing demand for Ethereum.
The market for Ethereum is white-hot currently as on April 16 the coin set an all-time high of $2,547 and capped a bull run that saw a price shooting past $2000 for the first time ever. Ethereum struggled to push past the 00 range since setting a previous record of ,036 back in February.
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The bull run shows a few signs of waning as it trades at a price of $2409 or 12.59% higher than it did last weekend.
Canada approved three ETFs already, each of which will start trading next week. The ETF is an auditable, regulated instrument that tracks the price of the underlying asset. They are a way for investors to trade cryptocurrencies on the stock market. The Ethereum ETFs were launched by Evolve, Purpose, and CI Global Asset Management which follow the launch of BTC ETFs by the same companies in Canada. Purpose’s ETF raised $421 million during the first two days of trading.
In the latest strength show for the crypto market, Coinbase started trading on the NASDAQ platform earlier this week with the $COIN ticker. This was great news for Ethereum because it was good news for the entire crypto space as well. $COIN closed on $342 which is proof that Wall Street is getting even more interested in digital currencies.
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