Ethereum exhibits positive hints of upside momentum

Ethereum exhibits positive hints of upside momentum

Marielle Petere

Feb 15, 2022 | BUSINESS

Ethereum exhibits positive hints of upside momentum

Ether price climbs above $3,000 during today’s trading session. 

Ethereum exhibits positive hints of upside momentum

Ethereum starts to escape from its downtrend, as it is moving back above $3,000 on early Tuesday.  

In fact, Ethereum network marked the lowest transaction fees in mid-February this year like what happened in mid-September 2021.

Crypto prices today

As of the 24-hour trading session, ether price is up by 7.7% at $3,102.20 at the time of writing, according to CoinGecko. 

The global market cap as of writing is $2.07 trillion by basing the crypto market chart CoinGecko. In addition, the market chart has presented a 5.7% increase in the whole cryptocurrency market over the last day. 

Bitcoin (BTC) is $44.245.66. Tether (USDT) is $1. Binance coin (BNB) is $427.21. USD Coin (USDC) is $1. XRP is $0.834428. Cardano (ADA) is $1.09. Solana (SOL) is $21.24. Terra (LUNA) is $56.43. Avalanche (AVAX) is $88.39. 

Ethereum network transaction

When it was mid-January 2022, Ethereum’s average transaction was $52.46 per transfer. On February 13, the average gas fee on the Ethereum network dropped to 71.15%.

Last Sunday, the cost was 0.0052 ETH, or roughly $15.13 per transfer. It was the lowest transaction fee in four months according to Bitinfocharts, a free source of crypto statistics. 

Ethereum’s median-sized transfer fee was also cheaper which cost 0.0023 ETH or $6.67 per transfer. 

But, the average gas fee on Ethereum remains 552% higher than Bitcoin’s average transaction fee. The Bitcoin network fee was $2.30 per onchain transfer. 

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