Ethereum Transaction Fees Set New Record-Highs – February 4

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $37,608

Bitcoin price is holding above $37,000 to begin Thursday, following a noticeable rejection from the mid $38,000s near recent highs.

Top-20 altcoins continue to perform well, as Ethereum hits new highs with a 6% rise, Dogecoin jumps 57% and Aave has a significant 40% gain.

Top Stories for February 4, 2021 πŸ”₯

πŸ‘‰ Ethereum Transaction Fees Set New Record-Highs

Transaction fees on the Ethereum network have reached new record-highs, as the average fee breaches the $20 mark for the first time.

The rise has correlated to Ether (ETH) all-time highs in price, as well as a monstrous run for DeFi tokens on the network.

Current transaction fees are double the peak figures witnessed in 2020’s decentralized finance (DeFi) boom, which has been dubbed “DeFi Summer”.

πŸ‘‰ PayPal To Invest In Cryptocurrency Service Unit

PayPal plans to invest in a business unit dedicated to cryptocurrency services, according to CEO Daniel Schulman during yesterday’s earnings call.

Schulman also stated that the company would be rolling out support this quarter for PayPal crypto holders to spend their balance with merchants, as well as a Venmo integration.

πŸ‘‰ FTX CEO Estimates Net Worth at $10 Billion

FTX CEO Sam Bankman-Fried – known to most simply as “SBF” – has estimated his net worth to be around $10 billion, in a New York Magazine interview.

Bankman-Fried was formerly a Wall Street quant trader, who entered the cryptocurrency space to take advantage of arbitrage opportunities between countries’ exchange’s.