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Ethereum (ETH) locked in the Ethereum 2 (ETH 2.0) smart contract has reached a new all-time high. Amid Ethereum’s price continues to rise in the last few days, currently, the global crypto market cap is $855.36B, a 0.14% increase over the last day.

Only <a target="_blank" href="https://cryptonews.com/coins/bitcoin/">bitcoin (BTC)</a> should be considered a commodity for regulatory purposes, and not <a target="_blank" href="https://cryptonews.com/coins/ethereum/">ethereum (ETH)</a>, Rostin Behnam, chair of the Commodity Futures Trading Commission (CFTC), said in a recent speech.

CryptoSlate’s analysis of gas consumption on the Ethereum (<a href="https://cryptoslate.com/coins/ethereum/">ETH</a>) network based on transactions interacting with non-fungible tokens contracts showed that OpenSea’s gas usage has declined to almost zero.

Ethereum price is showing more strength as it sets the stage for a bullish momentum in the upcoming days. Despite Federal Reserve Chair <a href="https://coingape.com/powell-speech-at-brookings-economic-outlook-inflation-crypto/" target="_blank">Jerome Powell pointing to slower rate hikes</a> starting from December, <a href="https://coingape.com/over-10k-bitcoin-btc-moved-to-crypto-exchange-are-miners-selling/" target="_blank">Bitcoin price remains under pressure</a> as compared to Ethereum due to miners capitulation. Several factors now indicate that Ethereum (ETH) price could rally to $1,350 and possibly to $1,550.

On-chain data provided by Glassnode and analyzed by CryptoSlate showed an erratic history for fees earned by exchanges on Bitcoin transactions.

Russia’s largest bank, Sberbank, has added support for Ethereum and EVM-compatible self-custodial wallet MetaMask on its digital asset issuance platform.

Rostin Benham – chairman of the Commodities and Futures Trading Commission (CFTC) – has walked back previous claims that Ether (ETH) and other altcoins should fall under his agency’s jurisdiction.&nbsp;

ETH, the cryptocurrency that powers the Ethereum blockchain, was last changing hands around $1,275, up around 6.5% in the last seven days according to CoinMarketCap. The cryptocurrency gained 6.5% alone on Wednesday as traditional risk assets like US equities rallied in wake of a more dovish-than-expected message from the chairman of the US Federal Reserve Jerome Powell on the prospect for further rate hikes in the coming months. Price predictions have become increasingly bullish in wake of the latest move higher.

Blockchain data analytics carried out by Nansen highlights the ever-growing amount of Ether (ETH) being staked across various staking solutions in the months following Ethereum’s shift to proof-of-stake (PoS) consensus.