From the perspective of the virtual world, the price of Ethereum has once again set a new record high, breaking through the $2,700 mark. This good news not only makes investors shine, but also injects new vitality into network transactions. It is worth mentioning that with the sharp drop in handling fees, users' enthusiasm for participating in the Ethereum network has also increased. Let us explore the deep meaning behind this round of Ethereum craze.

The price of Ethereum has soared all the way, breaking through $2,700, which has attracted the attention of the entire cryptocurrency market. This good news not only reflects the market's confidence in the future development of Ethereum, but also affirms the prospects for the application of blockchain technology and smart contracts. As Ethereum continues to set new highs, investors' confidence has also risen, and they have increased their investment in this digital currency. This price increase will undoubtedly further promote the vigorous development of the Ethereum ecosystem and inject new vitality into the blockchain industry.

At the same time, the handling fees of the Ethereum network have been greatly reduced, which has become a highlight of the market. This change not only greatly reduces the cost of users when conducting transactions, but also greatly promotes the activity of network transactions. Users can participate in the Ethereum network more conveniently and economically, thereby promoting the emergence of more transactions and application scenarios. This move to reduce handling fees has undoubtedly added new impetus to the development of Ethereum and brought a better experience to more users.

Behind this round of Ethereum price surge, we can't help but wonder, what will the future of digital currency be like? With the continuous maturity of blockchain technology and the continuous expansion of application scenarios, Ethereum's position as a smart contract platform will be more stable. With the reduction of handling fees and the activeness of network transactions, the Ethereum network will become more powerful, providing users with more convenience and possibilities. This also allows us to see the infinite possibilities of digital currency. I believe that in the future, Ethereum will lead the development of the entire blockchain industry with a stronger attitude.

In general, the price of Ethereum has exceeded $2,700, the handling fees have been greatly reduced, and the network transactions have been active. This series of changes not only makes investors shine, but also brings new hope to the entire blockchain industry. In the future, with the continuous development of blockchain technology and the continuous expansion of application scenarios, Ethereum, this shining star, will continue to shine and bring us more surprises and possibilities. Let us look forward to the future of the digital currency world being more exciting!

The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

Ethereum has been rising for days. According to CoinMarketCap data, Ethereum has risen by more than 6.56% in the past 24 hours, setting a new high of $2,716, and its market value has exceeded $300 billion. It is worth mentioning that the overall TVL (total locked value) of DeFi has also exceeded the $100 billion mark for the first time.

Ethereum fell below the $2,000 line on the 18th after falling with the market on the 15th. However, after less than a week of volatility, the bull market effect has once again taken effect. In the past 5 days, Ethereum has risen by more than 27.6%, breaking through the $2,700 mark from a low of $1,946.80, setting a new high of $2,716.

Ethereum's rapid recovery is partly due to the successful launch of the Berlin hard fork on the 15th. In this network upgrade, Ethereum introduced 4 EIP proposals, including expanding new transaction types, reducing some transaction fee costs, and adding a list of selective access permissions.

Among them, the sharp drop in transaction fees after the Berlin upgrade is the main reason for the Ethereum network to become more active. In the past few months, the popularity of DeFi and NFT has caused congestion in the Ethereum network, and the soaring transaction fees have overwhelmed ordinary retail investors. ETH
Gas Station data shows that the current average Gas Fee level remains at 51~66 Gwei.

Option expiration

On the other hand, Skew data shows that about $930 million of Ethereum options are expected to expire this week. At present, the long position leads to $115 million, and the strike price is the highest at $3,000, which indicates that Ethereum may continue to set new historical highs.

Although the continuous plunge of more than 20% after the 15th has led to the liquidation of more than $1 billion in long positions, the 27% increase in the past few days has brought the Ethereum futures contract position to $8.2 billion. In addition, the position of option contracts also hit a new high of $4.2 billion, of which $930 million will expire at the weekend.

Considering that there are less than 3 days left until the expiration date, the trend seems to be quite favorable for bulls. Laevitas data shows that among the expiring Ethereum options on Deribit, as many as 91% of the short positions have an exercise price below $2,400, which means that Ethereum will have to fall by at least 17% and fall below $2,240 in the remaining time to eliminate the advantage of bulls.

DeFi continues to be active

Due to the decline in handling fees, the trading volume of decentralized exchanges such as Uniswap and SushiSwap has also continued to rise in recent days. CoinGecko data shows that in the past 24 hours, Uniswap's trading volume reached $1.54 billion, and SushiSwap had $490 million.

DeFi
Pulse data shows that Ethereum DeFi’s TVL has reached $64.5 billion, with Maker, Compound and Aave being the top three lending platforms, with $10.26 billion, $9.14 billion and $8.36 billion respectively. DeBank data shows that the DeFi
TVL, which combines Ethereum, Smart Chain (BSC), Polygon (MATIC) and other blockchain networks, has broken the $100 billion mark for the first time.