Sell The Ethereum News They Said
On August 5th The London fork was implemented on the Ethereum technology. This fork is known as EIP-1559 that is expected to help increase transaction time and make transaction fee predictable. This fork in turns reduces the supply of ETH by burning the ETH used as base fee. This was predicted and expected to make the price of ETH spike up.
Lots of people doubted this as they claim it was a buy the rumor and sell the news situation. But from the price of ETH today and as at the time of typing this article, the price is $3,078. This is the price that haven’t been seen since the fallout of the general crypto price in May because of the Elon Musk FUD.
Ever since the London HardFork ETH price has had more than 5% price jump, and Ethereum is burning more than $10,000 worth of Ethereum per minute removing a lot of ETH from circulation.
This wee has been beautiful for crypto Hodlers and investors as most coins are up. The total market capitalization is at $1.7 trillion. Hive token is back above $0.4 I guess the crypto nature is healing.
Posted Using LeoFinance Beta
