Ethereum hits 2-year high, transaction fees hit record high, Bitcoin leads decline

Ethereum (ETH), the second-largest cryptocurrency by market value, rose in the final hours of Thursday to reach its highest level since August 2018, while Ethereum network transaction fees also hit a new all-time high.

At 03:53 UTC, Ethereum was trading at $421, up 7% in a day and 74% in total since June.

ETH price chart:

Meanwhile, Bitcoin (BTC), the No. 1 cryptocurrency by market cap, rose 1.5% in a day to $11,753. Its price fell nearly 1% in a week, but is still up 26% in a month. In addition, Bitcoin's dominance, or the percentage of the total global cryptocurrency market cap, slipped further today to 58.2%, the lowest level since June 2019. The other top 10 digital assets rose 3.6%.

Meanwhile, the average Ethereum transaction fee hit a new all-time high yesterday, rising parabolically to $3.35, according to data from bitinfocharts.com. The previous all-time high was reached in January 2018, when it briefly touched $3.14.

At the same time, Google Trends data shows that search interest in Bitcoin and Ethereum has increased in recent days.