Ether Price Hits New Record High
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The price of Ether on crypto exchange Binance has risen above $4,370 for the first time ever. The previous record was set in May. Now the crypto's market cap amounts to $497 billion.

The price of Ether started to grow after Bitcoin recently reached its all-time high. Last October 20, the price of the crypto exceeded $67,000 for the first time ever.

In part, this rise is due to the fact that the first exchange-traded fund (ETF) based on Bitcoin futures on the Chicago Mercantile Exchange (CME Group) began trading in the United States on October 19. The ProShares Bitcoin Strategy ETF trades under the ticker BITO on the New York Stock Exchange (NYSE).

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In early August, the London hardfork was released on the Ethereum network, which changed the mechanism for calculating transaction fees. Some of the commissions that miners previously received as a reward are now burned.

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