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28 July 2021

No hard fork love for Ethereum as ETH price falls to a three-week low

No hard fork love for Ethereum as ETH price falls to a three-week low


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No hard fork love for Ethereum as ETH price falls to a three-week low.

Dubbed as London hard fork, the major code update is another step from turning Ethereum into a speedier and scalable proof-of-stake network from an energy-intensive proof-of-work one.

Crypto education platform CoinMonk noted in March that the London hard fork upgrade could ideally burn 1 million ETH in 365 days, an equivalent to almost one percent of the network.

For instance, Konstantin Anissimov, executive director at CEX.IO exchange, anticipates Ether prices to reach $3,000 following the London hard fork

"As things stand, the Federal Reserve has increased the size of its balance sheet from early 2020 to more than $8 trillion — a substantial rise," he said, adding that the reduced prices in the cryptocurrency markets are an opportunity for investors against beaten-down safe-havens in traditional markets

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