Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.
$120,510.00
1.84%$4,686.86
9.42%$3.29
4.33%$853.88
6.57%$201.27
15.07%$0.999714
-0.01%$4,670.60
9.10%$0.2471
11.87%$0.357542
3.46%$0.877297
13.33%$5,652.40
9.09%$23.85
11.58%$46.48
9.34%$120,382.00
1.81%$5,038.24
9.30%$0.454508
4.50%$4.04
11.34%$5,011.19
9.09%$607.53
2.62%$0.264862
7.34%$4,682.32
9.41%$1.001
0.01%$25.12
9.55%$131.51
9.90%$3.48
3.28%$9.25
2.13%$0.00001389
8.32%$0.999779
0.05%$12.09
10.80%$112.18
145.16%$1.001
0.05%$46.30
3.15%$120,378.00
1.74%$4.26
9.93%$4.86
11.09%$0.168074
0.19%$1.19
0.03%$0.794904
2.70%$0.00001234
10.19%$328.02
10.73%$257.85
2.65%$400.79
10.31%$1.11
8.17%$24.01
8.76%$2.90
11.60%$4.96
9.32%$1.071
9.27%$0.401222
5.34%$5.83
8.86%$245.93
14.84%$4,700.10
9.60%$0.099221
13.68%$0.492483
11.71%$0.277098
9.67%$1.00
0.00%$0.03795046
8.88%$0.251502
7.52%$0.02619904
8.26%$4.82
6.70%$18.51
12.91%$1.00
0.03%$5,308.64
8.98%$4.21
12.81%$0.00002691
11.68%$214.56
14.78%$4,912.14
9.25%$1.091
11.99%$0.346588
15.32%$4.57
-0.13%$0.742021
8.33%$1.063
0.01%$9.58
9.52%$5.41
6.17%$2.69
8.84%$6.00
5.84%$0.083833
2.42%$4,925.02
9.29%$5,081.64
9.35%$117.28
6.40%$1.80
4.96%$0.554737
12.06%$4,992.00
9.30%$0.02298176
4.90%$120,507.00
1.72%$12.73
7.02%$15.56
14.29%$0.090669
3.76%$0.999601
-0.03%$1.048
14.92%$1.95
13.60%$0.815972
9.37%$4,930.57
9.10%$0.00403876
14.08%$0.764218
8.40%$1.37
3.05%$0.998744
-0.06%$1.51
2.19%$0.02813435
-5.06%$0.999864
0.02%$0.997752
-0.29%$46.43
9.02%$3,366.15
0.65%$0.999843
0.00%$120,639.00
1.82%$227.31
14.95%$1.34
22.60%$0.614057
10.09%$0.00011812
9.93%$855.33
6.66%$1.13
30.75%$0.103489
11.17%$0.999615
0.03%$0.327572
10.78%$4,684.70
9.34%$1.042
15.93%$0.199641
1.92%$2.93
8.04%$0.382206
0.22%$1.001
0.11%$29.74
7.10%$120,337.00
1.73%$3.61
18.83%$5.71
6.70%$3,350.18
0.19%$264.82
15.04%$1.12
-0.05%$120,762.00
0.93%$0.88269
0.96%$0.576753
9.44%$1.39
7.92%$0.908469
10.25%$4,516.96
0.50%$0.153377
5.95%$0.01835615
11.02%$0.215732
8.87%$0.01849233
10.94%$4,683.22
9.37%$4,989.90
9.36%$4,668.68
9.27%$0.134684
12.86%$0.307887
9.65%$2.25
10.41%$4,981.17
9.27%$0.43162
-2.57%$1.97
11.77%$120,480.00
2.02%$112.15
0.01%$0.0000007
4.10%$1.087
0.37%$0.211877
0.80%$0.997699
-0.03%$5,159.93
9.44%$40.59
10.17%$4,683.49
9.42%$0.407654
11.38%$0.458571
15.61%$0.999027
-0.06%$0.247667
11.82%$0.620294
-1.01%$5,069.89
8.24%$0.317399
9.54%$0.061135
13.15%$1.47
5.08%$0.00646329
5.86%$0.00817204
0.06%$29.52
4.27%$120,306.00
1.55%$0.00974198
9.36%$0.997461
-0.04%$0.733225
15.07%$0.148275
16.73%$3.03
6.72%$0.0000014
2.79%$4,628.52
8.99%$8.27
12.69%$4,679.82
9.34%$1.26
8.30%$1.49
9.76%$0.651336
7.29%$0.467261
0.62%$0.072515
-0.58%$0.514014
7.42%$0.070986
27.19%$0.00000122
10.73%$117,661.00
1.13%$54.25
6.89%$0.999908
0.03%$0.818727
10.21%$7.56
9.09%$0.998253
-0.06%$0.01407045
3.13%$1.51
12.28%$0.405468
9.12%$6.75
9.49%$16.60
10.69%$5,675.42
9.18%$0.00000047
-0.49%$0.02383356
6.10%$15.18
2.41%$0.17796
20.19%$0.00002229
6.31%$1.16
-0.05%$0.00862264
10.18%$1.00
0.18%$0.400027
5.85%$0.04423584
7.92%$2.60
10.28%$7.56
0.59%$0.090257
9.15%$1.00
0.01%$222.01
15.19%$0.00479735
-2.45%$1.096
-0.02%$0.591263
6.83%$46.31
9.30%$0.999275
0.48%$10.78
0.03%$4,900.08
8.67%$0.999714
-0.00%$5.09
-1.57%$0.03474715
4.77%$4.79
14.25%$120,613.00
2.43%$25.05
9.22%$30.50
9.13%$0.27865
6.00%$0.146119
8.13%$0.575517
9.06%$0.00515383
17.45%$0.371807
10.40%$5,269.32
9.09%$0.116656
0.17%$142.59
7.71%$0.602029
12.20%$4,689.88
9.57%$22.57
-0.28%$0.806988
-0.49%$0.00000305
28.79%$1.32
8.14%$120,091.00
1.60%$0.0035777
7.73%$0.251301
7.65%$0.755434
7.42%$0.830209
9.33%$120,309.00
1.83%$0.00498718
9.14%$0.00006226
3.56%$0.03457179
4.08%Most crypto markets are in the green today, led by Ethereum. The second-largest cryptocurrency by market cap has jumped over 8% in the last 24 hours.
The price of ETH now sits near $2,700, its highest level in over a month.
The upward movement is happening on the eve of a major upgrade for the network. The London hard fork, as it is called, includes several modifications to the Ethereum code, including EIP-1559.
EIP-1559 changes how transactions are structured on the network. At present, the process is somewhat opaque, as people are left to effectively guess how much they'll need to send to miners—who are processing transactions—to get theirs included relatively quickly. EIP-1559 will institute a base fee, which should have the effect of slightly lowering transaction costs and making them more transparent.
Normally, these sorts of code changes wouldn't get people excited. But EIP-1559 does something else: It burns the transaction fee. Instead of going to miners (who still receive tips and 2 ETH in block rewards for each block they process), the base fee is taken out of circulation by being placed in an inaccessible wallet.
Tim Beiko, a developer with the Ethereum Foundation who is coordinating the upgrade, told Decrypt that EIP-1559 will lower the rate at which new ETH is produced. If the network is congested and base fees rise above 150 gwei (a measure of cost) in response to demand, the network would even burn more in transaction fees with each block than it produces.
Which means ETH will experience some deflationary pressure after the change, akin to how Bitcoin's supply gets squeezed every four years when BTC mining rewards are cut in half. Prices typically pop up when supply is constricted.
There's some question as to whether the effects of that deflationary pressure has already been priced into the current rate, seeing as how ETH's price has more than doubled since the start of the year. If today's upward movement is an indication, traders thought it still had room to grow.
Disclaimer
The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.