ETH/USD closed at 2103.49 after placing a high of 2129.26 and a low of 2001.85. Ethereum continued its bullish streak on Monday for the seventh consecutive session and reached its all-time high near $2130. March has been a profitable month for crypto miners who contributed to the Ethereum network. After February, Ethereum miners also experienced an excellent month in terms of revenue generation in March with a new all-time high of $1.38 billion.

According to on-chain data compiled by The Block, Ethereum miners’ revenue hit a new high in March and surpassed the previous month’s value by 0.73%. The crypto news cited that inflows from transaction fees established the sum of revenue.

Earlier in March, the upcoming Ethereum Improvement Proposal (EIP-1559) that is expected to introduce a solution for the high gas fees issue in the network remained under debate as miners revolted against this upgrade. The concerns of miners were that this upgrade could cut their profits by 50%. It is still unclear whether the developers’ team of Ethereum will push forward with the upgrade; however, until that happens, miners will continue to get benefit from the high gas fees and generate revenue.

On Monday, a former White House Director of Communications, Anthony Scaramucci, outlined a bullish stance for the future of ETH. He has been quite vocal about cryptocurrency since the end of 2020 and has also announced to launch a Bitcoin Fund through his company. Scaramucci said that there was a big market for Ethereum and he predicted that it has a good fundamental that will grow eventually.Furthermore, Ethereum was also getting support from the upward trend of BITCOIN as it tends to follow the largest cryptocurrency by market cap. The impressive uptrend in Bitcoin was fueled by the news of further adoption by some of the largest financial institutions worldwide.