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Today the price of Ethereum, the second largest crypto by market capitalization, reached USD 1.026, according to CoinMarketCap.
Thus, the crypto is at USD 300 of exceeding its historical maximum. The truth is that most of the upward movement of Ethereum and other crypts is thanks to the Bitcoin rally.
However, not everything is positive. Ethereum's transaction rates have increased almost 400% since January 1, 2021. According to Glassnode, Ethereum's transaction fees have reached a new all-time record of $898,000 in a single day.
Certainly higher rates indicate greater demand on the Ethereum network. But it also makes it more expensive to perform crypto transactions on it.
