Ethereum

Status

<ul> 
 <li><strong>Ethereum’s fee revenue surpasses ETH price, echoing 2020’s surge.</strong></li> 
 <li><strong>The Ethereum price climbed over 2% to near the $1900 range.</strong></li> 
</ul> 
<p>Ethereum’s fee revenue has outpaced the ETH <a href="https://thenewscrypto.com/will-ethereum-eth-above-1900-mark-soon/" target="_blank" rel="noopener noreferrer nofollow">price</a> year-to-date (YTD), signaling a significant shift in the cryptocurrency market. This development marks the first time in two years that fees have exceeded the price of Ethereum, indicating a return to the unprecedented surge witnessed in 2020.</p> 
<p>According to insights provided by Bloomberg Intelligence analysts, Ethereum’s fee revenue has experienced a substantial increase in the current year. In a revealing comparison, it’s apparent that the momentum behind Ethereum’s activity is expanding independently of speculative price trends. The data reveals a striking parallel between the current state of affairs and the events of 2020.</p> 
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  <img decoding="async" width="1024" height="401" src="https://thenewscrypto.com/wp-content/uploads/2023/08/ETH-1024x401.jpg" alt="" class="wp-image-80387" srcset="https://thenewscrypto.com/wp-content/uploads/2023/08/ETH-1024x401.jpg 1024w, https://thenewscrypto.com/wp-content/uploads/2023/08/ETH-300x118.jpg 300w, https://thenewscrypto.com/wp-content/uploads/2023/08/ETH-768x301.jpg 768w, https://thenewscrypto.com/wp-content/uploads/2023/08/ETH-150x59.jpg 150w, https://thenewscrypto.com/wp-content/uploads/2023/08/ETH.jpg 1473w" sizes="(max-width: 1024px) 100vw, 1024px"> 
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    (Source: <a href="https://twitter.com/Jamie1Coutts/status/1689079916879634432?s=20" target="_blank" rel="noopener noreferrer nofollow">Twitter</a>) 
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<p>The year 2020 saw Ethereum’s price hovering around $52.471, while the cumulative<a href="https://thenewscrypto.com/financial-giants-eye-early-dominance-in-ethereum-futures-etf/" target="_blank" rel="noopener noreferrer nofollow"> fee revenue</a> amassed an impressive total of $176.141. Fast forward to 2023, and the ETH price has now soared to the $1900 range. As of July, the fee revenue had surged to $6.103 million, a clear testament to the burgeoning activity within the Ethereum network.</p> 
<h2 class="wp-block-heading" id="h-ethereum-eth-market-status">Ethereum (ETH) Market Status</h2> 
<p>As dawn breaks on the trading floor, Ethereum finds itself comfortably nestled between $1800 and $1900. At the time of writing, Ethereum was trading at $1,857 with a 24-hour trading volume of $5.8 billion, up 7%. However, after a week, the price of ETH soared by about 2%.</p> 
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  <img decoding="async" width="1024" height="552" src="https://thenewscrypto.com/wp-content/uploads/2023/08/Ethereum-ETH-1024x552.png" alt="" class="wp-image-80388" srcset="https://thenewscrypto.com/wp-content/uploads/2023/08/Ethereum-ETH-1024x552.png 1024w, https://thenewscrypto.com/wp-content/uploads/2023/08/Ethereum-ETH-300x162.png 300w, https://thenewscrypto.com/wp-content/uploads/2023/08/Ethereum-ETH-768x414.png 768w, https://thenewscrypto.com/wp-content/uploads/2023/08/Ethereum-ETH-150x81.png 150w, https://thenewscrypto.com/wp-content/uploads/2023/08/Ethereum-ETH.png 1300w" sizes="(max-width: 1024px) 100vw, 1024px"> 
  <figcaption class="wp-element-caption">
    Ethereum (ETH) Price Chart (Source: <a href="https://in.tradingview.com/symbols/ETHUSDT/?exchange=BINANCE" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>) 
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<p><a href="https://thenewscrypto.com/will-ethereum-overcome-its-bearish-sentiment/" target="_blank" rel="noopener noreferrer nofollow">Analyzing</a> the daily price chart, it indicates that the Ethereum price currently hovers slightly above the 50-day Exponential Moving Average (EMA), suggesting a favorable position in the market. Additionally, the Relative Strength Index (RSI) for ETH stands at 49.56, indicating a balanced momentum between the buying and selling states.</p>

Ethereum’s Fee Revenue Overtakes ETH Price, What Does It Mean?

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