{"id":171605,"date":"2021-02-05T18:16:53","date_gmt":"2021-02-05T15:16:53","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ether-price-breakout-to-1750-sees-ethereum-network-fees-hit-all-time-high\/"},"modified":"2021-02-05T18:16:53","modified_gmt":"2021-02-05T15:16:53","slug":"ether-price-breakout-to-1750-sees-ethereum-network-fees-hit-all-time-high","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ether-price-breakout-to-1750-sees-ethereum-network-fees-hit-all-time-high\/","title":{"rendered":"# Ether price breakout to $1,750 sees Ethereum network fees hit all-time high"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3f9b2b14f94\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3f9b2b14f94\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ether-price-breakout-to-1750-sees-ethereum-network-fees-hit-all-time-high\/#Ether_price_hits_record_1750\" >Ether price hits record $1,750<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/ether-price-breakout-to-1750-sees-ethereum-network-fees-hit-all-time-high\/#Gas_fees_cause_headaches\" >Gas fees cause headaches<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Ether price breakout to $1,750 sees Ethereum network fees hit all-time high <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-5a136f3a>Largest altcoin Ether (ETH) built on its recent all-time highs on Feb. 5 to climb ever closer to $2,000.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/ba2b8b4c-fc7a-4f09-9541-b2d911b2088f.png\"><figcaption style=\"text-align: center;\"><em>ETH\/USD 1-hour candle chart (Bitstamp). Source: TradingView<\/em><\/figcaption><\/figure>\n<h2><span class=\"ez-toc-section\" id=\"Ether_price_hits_record_1750\"><\/span>Ether price hits record $1,750<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data from Cointelegraph Markets and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/symbols\/ETHUSD\/\">TradingView<\/a> showed a fresh breakout occurring for ETH\/USD during Friday trading.\u00a0<\/p>\n<p>At the time of writing, Ether was targeting $1,750 as 6.5% daily gains topped weekly returns of nearly 22%.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/bf80c29b-937c-4936-a0ab-7bf867fb87ed.png\"><figcaption style=\"text-align: center;\"><em>Ether, Bitcoin YTD performance. Source: Digital Assets Data<\/em><\/figcaption><\/figure>\n<p>The move came on the back of intense trading interest in DeFi coins, many of which use the Ethereum network as their basis. DeFi produced many of the best movers on weekly timeframes.<\/p>\n<p>Ether meanwhile had already seen brisk upside as anticipation built over the launch of dedicated futures from CME Group, one of the pioneering Bitcoin futures operators. Asset management giant Grayscale began buying ETH for its Ether Trust again this week after a near two-month break.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Gas_fees_cause_headaches\"><\/span>Gas fees cause headaches<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>While some well-known cryptocurrency figures, including Gemini exchange co-founder Tyler Winklevoss, celebrated price performance, the highs were accompanied by another record \u2014 transaction fees.\u00a0<\/p>\n<p>As Cointelegraph reported, gas fees on the Ethereum network became so high this week that some exchanges were forced to halt ETH withdrawals altogether.<\/p>\n<p>&#8220;This is a legit crisis. Going to have to stock up on popcorn to see how Ethereum digs its way out of this,&#8221; Blockstream developer Grubles <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/notgrubles\/status\/1357484779223056385\">commented<\/a>.<\/p>\n<p>According to data from <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ycharts.com\/indicators\/ethereum_average_transaction_fee\">YCharts<\/a>, the average ETH fee was $23.27 on Feb. 4, the latest date for which statistics were available.<\/p>\n<p>While Bitcoin (BTC) meanwhile simmered below $40,000, macro conditions <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eared apt to fuel fresh upside for BTC\/USD. As the S&amp;P 500 hit its own all-time highs on Friday, so the U.S. dollar currency index drop, a phenomenon which traditionally implies that Bitcoin will benefit.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-02\/3fd23844-2d85-47b2-bd64-b787a115a23b.jpeg\"><figcaption style=\"text-align: center;\"><em>DXY vs. BTC\/USD chart. Source: Kaiko\/ <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a><\/em><\/figcaption><\/figure>\n<p>&#8220;Correlation is not causation, but the trend is quite clear: #Bitcoin\u2019s meteoric price rise (and occasional crashes) correlates closely with movements of the U.S. Dollar Index (DXY),&#8221; data analytics service Kaiko <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/KaikoData\/status\/1356967125093675010\">wrote<\/a> about the phenomenon this week.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/ether-price-breakout-to-1-750-sees-ethereum-network-fees-hit-all-time-high\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Ether price breakout to $1,750 sees Ethereum network fees hit all-time high &#8221; Largest altcoin Ether (ETH) built on its recent all-time highs on Feb. 5 to climb ever closer to $2,000. ETH\/USD 1-hour candle chart (Bitstamp). Source: TradingView Ether price hits record $1,750 Data from Cointelegraph Markets and TradingView showed a fresh breakout&#8230;<\/p>\n","protected":false},"author":1,"featured_media":171606,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDIvZjkyNGEwYjYtMjQwZi00NWEyLTk4NDYtNGZjNGI4ZTY5NTI1LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74937,82402,74891,73785],"class_list":["post-171605","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-price","tag-ether-price","tag-ethereum","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/171605","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=171605"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/171605\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/171606"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=171605"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=171605"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=171605"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}