Bitcoin is still hovering around the $10,200 mark and Ripple’s XRP is directly behind ETH with it showing its capabilities to recover from bearish situations – in third place on the market cap rankings. This is an improvement following recent events with XRP investors being angry at Ripple for selling tokens to fund various investments.
Ethereum, on the other hand, seems to have picked up from its lows and now appears to be on the road to recovery, having gained more than 6% in the last 24 hours.
It’s key to note that Ethereum has seen back-to-back gains since early September, increasing in price by more than 18% during this time. At this time, Ethereum is hovering over the $210 mark and currently sitting here, up 14% in just 7 days.
The entire market is showing green at this present time with Ethereum currently up more than any other top 10 cryptocurrency, considering just gains within 24 hours.
In the background, Ethereum has also improved in other avenues besides price growth. It’s picked up and reaching BTC’s daily transaction fee revenue, since mid-June 2019.
Coin Metrics recently discovered that ETH hit just under $183K in daily transaction fees, which is just under Bitcoins network transaction fee of close to $186K. Note that 2 years ago, Bitcoin had almost 25 times higher fees than Ethereum, meaning that Ether has gained significantly in just under 2 years. The impressive adaptation is mostly due to the transition of Tether from Bitcoin to Ether in terms of influx of transactions.