Ethereum price reached an all-time high

Ethereum price has more and more competitors.

Ethereum price, after declining at the end of the penultimate week of April, was able to update the historical high, being at $ 2 . 6 6 5 , 0 0 0 on April 27. Investors were wagering on the previous week’s news that three bitcoin ETFs have now been launched in Canada, in addition to three bitcoin exchange-traded investment funds (ETFs). In addition, the recent Ethereum update is focused on reducing the growth rate of the E T H supply.

The issue of transaction fees remains key to the future behavior of the Ethereum price. Emerging solutions such as Binance Smart Chain and Solana successfully compete with Ethereum on this issue. For Ethereum miners, meanwhile, the situation of high transaction fees alone made it possible to generate $2.3 billion in revenue since the beginning of the year.

Analyst Joseph Young believes that Ethereum will get a “second wind” in terms of price growth only after the transition of Ethereum to Ethereum 2.0 update, which is still in development. A partial solution to the transaction fees issue may already be achieved during the nearest Ethereum update called London, which is expected to be released on July 14 this year.

However, already now there is an interest in Ethereum from institutional investors, and it is the attention of such companies that has become a significant factor in the rise in bitcoin’s price. Recall that Meitu has invested even more in Ethereum than in bitcoins.