Ethereum Nears $3,000

ethereum abstract

Ethereum is close to reaching a major milestone with the currency rising to a new all time high of about $2950. Its market cap is close to overtaking $340 billion, which translates to about 35% of bitcoin’s market cap, its highest level in three years. That’s because the ratio has significantly risen, reaching a high of 0.05157 bitcoin with it currently at 0.05138 as the money network seemingly turns bullish. Ethereum has been on an uptrend since the 25th of April, up from $2160 to now knocking on the doors of $3,000. In great part that’s because some network improvements have allowed for an increase in capacity which has led to a 5x drop in network fees from the average of $50 (including smart contract transactions) to now between $8 and $10. Flashbots have contributed to this drop in congestion as well as sandwich bots becoming sophisticated smart contracts where…

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