The much-talked-about Ethereum hard fork finally went live on Aug. 5 after block 12,965,000 was mined. Dubbed “London,” the software upgrade will bring together significant alterations in Ethereum’s code. Overall, the code changes target improvements to the network’s transaction fee market, user experience and much more. London comes with five Ethereum Improvement Protocols (EIP), with EIP-1559 garnering the most attention due to the impact on transaction fees and miner revenue, which initially caused miners to push back, raising concerns over the protocol consensus and a potential chain split. EIP-1559 was originally proposed in April 2019 and underwent testing back in …

The London hard fork of Ethereum, which went live on Aug. 5, ushered in a new era for the transition to Ethereum 2.0, a complete proof-of-stake (PoS) blockchain. In fact, the London upgrade is the penultimate step on the way to the final transition to PoS scheduled sometime in 2022. The upgrade got triggered almost on time at 12:33 pm UTC at the block height of 12,965,000. Along with the highly anticipated Ethereum Improvement Proposal (EIP) 1559, this upgrade brings four other EIPs to the network, EIP-3554, EIP-3541, EIP-3198 and EIP-3529. The main change that EIP-1559 brought is the management …

This week Ethereum's London hardfork was completed without a hiccup and investors have now reset their eyes on new highs above $3,100. Data from Cointelegraph Markets Pro and TradingView shows that the price of Ether (ETH) did in fact experience a “sell the news” sell-off shortly after London went live but dip buyers quickly rushed in and pushed its price back above $2,800, its highest level since June 7. This bullish momentum extended further after Bitcoin price surged above $44,000 and at the time of writing Ether trades at $3,050. Now that the network is operating smoothly following its biggest …

Ethereum’s native asset, Ether (ETH), crossed above $3,000 in an extended upside rally on Saturday, hitting a three-month high. Nevertheless, the cryptocurrency’s incredible move upward also boosted its possibilities of facing a bearish backlash. An on-chain indicator that tracks the total percentage of Ethereum addresses in profits predicted the said downside outlook. In detail, the so-called “Ethereum: Percent of Addresses in Profits” indicator by Glassnode reached 96.4% amid the ETH/USD price rally. Lex Moskovski, chief investment officer of Moskovski Capital, highlighted the metric’s capability of predicting Ether’s top. In hindsight, whenever the Glassnode indicator crossed the 90%-threshold, it resulted in …

Approximately 2.3 Ether (ETH) is being burnt every minute through the new transaction fee mechanism introduced in Ethereum’s London upgrade on Thursday. The highly anticipated London hard fork went live on Thursday this week, ushering in the Ethereum Improvement Proposal (EIP) 1559 upgrade that adjusted gas fees. Part of that adjustment introduced a mechanism that burns some of the base fees collected. The total amount of ETH burnt since the upgrade went live is roughly 3,395 ETH, according to the various counters available. Etherchain reports an average burn rate of 2.36 ETH per minute. This equates to $6,596 per minute, …

Ethereum’s Ether token (ETH) enjoyed a "massive" rebound towards $3,000 on Aug. 5 as optimism flowed in after its London hard fork went live. Data from Cointelegraph Markets Pro and TradingView showed ETH/USD climbing swiftly to local highs of $2,820 on Bitstamp Thursday. The sudden burst of enthusiasm countered a downtrend which had set in after the initial uptick following London's successful deployment the day before. After a wick down to as low as $2,530, Ethereum outperformed many altcoins on hourly timeframes, setting its sights on resistance nearer to the $3,000 mark. Out of the past 16 Daily candles for …

Prominent British banker Jacob Rothschild’s investment firm Rothschild Investment Trust (RIT) Capital Partners partnered with New York-based Liberty City Ventures to lead pre-A funding for Aspen Digital, a crypto asset investment platform. According to an official announcement, the funding round ended up raising $8.8 million to help the Hong Kong-based company develop an institutional crypto investment platform targeted at asset managers, institutions and professional investors. Aspen Digital CEO and co-founder Yang He said that the funding would also help the company penetrate into the London market. The company was founded initially to spearhead the issuance of an in-house security token, …

Ethereum’s native asset, Ether (ETH), dropped after reclaiming its two-month high in the previous session, suggesting that its recent bullish rally was nearing exhaustion. In detail, the ETH/USD pair topped out at $2,699 on Sunday for the first time since June 7. The pair’s peak level also pushed its relative strength index (RSI), a momentum-gauging indicator, above 70 — a mark that analysts consider overbought. Seemingly, traders with short-term risk setups sold the Ether top to secure interim profits, leading up to a modest downside correction. On Monday, Ether prices rose 1.81% to $2,600 to offset the Sunday sell-off risks. …

Ether (ETH) prices slid on Tuesday in tandem with Bitcoin’s (BTC) drop below $30,000. The ETH/USD exchange rate dropped 5.41% to an intraday low of $1,720 — or roughly $400 above its 2018 all-time high price — which should serve as an important psychological support level. The pair’s bid had climbed to as high as $1,994 on the Coinbase exchange on Sunday. Meanwhile, its price action looked strikingly similar to Bitcoin’s, the flagship cryptocurrency that topped at $32,450 on Sunday but later corrected to as low as $29,507 during the Tuesday session. The plunge also followed the Ethereum network’s co-founder …

Ethereum (ETH) has enjoyed a good run so far in 2021, with its value increasing from about $1,300 at the beginning of the year, to nearly $4,000 in May. However, Ethereum’s price aside, consistent problems on the Ethereum blockchain have brought to light the anger of traders and decentralized application (DApp) developers on the Ethereum ecosystem. Lack of scalability and high gas fees are the main issues. As one of crypto’s biggest platforms for decentralized applications, Ethereum has been dealing with network congestion that reflects the high gas fees that people have had to pay with every transaction. Since the …

Ether (ETH) perhaps had the most bullish outlook entering the July session, with the Ethereum Improvement Proposal (EIP) 1559 promising to make ETH scarcer through the network’s first-ever burning mechanism. But so far into the month, the second-largest cryptocurrency by market capitalization has vastly tailed its top rival Bitcoin (BTC). The positive correlation was visible on Tuesday, following the New York opening bell when Ether plunged below $2,000 to hit a two-week low in sync with Bitcoin, which slipped below $32,500. As it happened, the ETH/USD exchange rate reached its intraday low of $1,961.10 following a 3.43% drop. The pair’s …

Bitcoin (BTC) stayed below the $33,000 mark on Friday, with a fresh price dip also putting an end to altcoin strength. BTC price flips $33,000 support Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it ranged below a previous support level into Friday. Earlier in the week, $33,000 saw multiple tests but remained in place as support, this only coming undone on Thursday. The $33,000 price level then became involved in a form of short-term support/resistance flip, with Bitcoin unable to reclaim it and, conversely, seeing rejection at each attempted rally. At the time of writing, the largest …