Coinmarketcap listed some reasons why we see Ethereum breaking new all times highs right now. *** Wider Institutional Adoption ** More institutional adoption of cryptocurrencies in general. In the past few months, we have been seeing a wider adoption of cryptocurrencies by institutional investors around the world. ** DeFi Is Heating Up *** Second reason, the overall increase in the growing popularity of decentralized finance. The total value locked (TVL) in DeFi rose from $181B in late September to over $270B currently. This is almost a a 60% increase in just over a month. ** EIP-1559 and Its Impact *** A few months ago (in late July), Ethereum Improvement Protocol (EIP) 1559 was implemented, which was focused on making transactions on Ethereum more transparent. The update aimed to do that by burning a part of the gas fees, which (as a whole) were being distributed to miners earlier. The overall gas fee was split into two, where the "mandatory" fee was the one you had to pay for the transaction and the optional .