Over the previous 7 days, the price of Ether saw over 31% increase. Today it set another all-time high surpassing $4360. The token's market dominance index is 19.84% and its market cap went up to $500 billion. That is larger than the market cap of Visa (480,90 B) and JP Morgan Chase (479.92 B).
Related: Ether Reached Another All-Time High of $4000
The Ethereum environment has seen a number of upgrades and improvements lately. First, there was the launch of CME futures in February 2021. In April the Berlin upgrade took place and the London upgrade is planned to go live on July 14. The updates aim to solve issues with scalability and lower the gas fees.
Currently, gas fees are high. With the surge of Dogecoin, Shiba Inu, and other meme tokens, the price reached a new record of $60.
This happens as the demand for those tokens is so high that users are ready to pay high prices for transactions.