Although the price of Ethereum (ETH) has recently reached a seven-month high, demonstrating an increase in demand, the network hasn’t seen an increase in transaction fees, which indicates that the value of the Ethereum coin could continue to grow.

Indeed, Ethereum briefly crossed the $1,840 mark, which it hasn’t done since August 18, 2022. However, its network transaction fees have dropped to below $2 despite high demand, according to the data by the cryptocurrency market intelligence platform Santiment published on March 20.

As the platform’s chart indicates, Ethereum fees on March 19 fell to $1.75 as the price reached $1,842. By comparison, the network fees recorded a substantial increase to $8.12 on March 11, right after the price of the cryptocurrency had bottomed at $1,380.

(By Ana Nicenko)