According to Coinmetrics, ETH has just reached a new all-time high of $22 million in daily transaction fees. The new record tops the one BTC reached in December 2017, namely $21.4 million.
The crypto financial data provider shared this information as well as an accompanying chart on the company’s official Twitter account.
ETH Hits an ATH of $1,695 – Binance rate
The daily transaction fee ATH wasn’t the only milestone ETH reached yesterday, though. Ethereum also hit an all-time high of $1,694 – Binance rate. However, soon after the new peak, ETH dropped below the $1,600 support zone.
At the time of writing, ETH is trading at $1,649, which may be the basis for an ascending trend that could lead to the cryptocurrency breaking the $1,700 resistance level. This milestone may even be reached before the launch of CME Ethereum Futures contracts, which is set for February 8th, 2021.
Grayscale Adds 70,791 ETH in the Last Week
Grayscale’s recent activity is said to have contributed to the ETH’s bullishness since the digital asset manager accumulated 70,791 ETH in the last week. On February 4th alone, Grayscale added 47,000 ETH as a result of opening subscriptions to the company’s Ethereum Trust to accredited investors.