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ETH London Hardfork – When to the Moon?

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ETH London Hardfork – When to the Moon?

London hardfork was launched on ETH mainnet on August 5, 2021. The update took place on block 12,965,000. As a part of the update, the following ETH improvement proposals were implemented:

  • EIP-3554 – delays the activation of the “difficulty bomb” until December 1, 2021.
  • EIP-3541 – prohibits the deployment of new smart contracts with addresses starting with the 0xEF byte.
  • EIP-3529 – reduces gas compensation.
  • EIP-3198 – defines the code of the operation that returns the base commission of the block.
  • EIP-1559 – burns part of the transaction fees depending on the network load and reduces the volatility of the gas price.

The London hardfork is a part of the ETH network transition from PoW to PoS, which in the long term should have a positive effect on ETH price. The transition to the new algorithm will slow down ETH issuance, creating a deflationary effect.

Apart from the deflationary model, there are several factors that can potentially stimulate the growth of cryptocurrency:

  • Increased demand from large investors, which in some cases exceeds the demand for BTC.
  • The loose monetary policy of the US Federal Reserve, which is expected to stay intact for the next few years, will fire up the demand for risky assets, including top cryptocurrencies.
  • The regulation of the US cryptocurrency market, as well as the approval and launch of ETFs on ETH and other cryptocurrencies, will allow large investors such as Fidelity, BlackRock and other funds and corporations to enter the cryptocurrency market.

Taken together, the growing deficit of the coin, increased demand, as well as the inflow of capital from large investors can have a serious impact on the price. As of press time, ETH costs just above $3,100. Although, after the London hardfork activation, the price may skyrocket quickly. Potentially, ETH may revisit an all-time high at $4,380. If this scenario materializes, investors will make a profit of more than 50%.

Unlike the US-based investors, who are still waiting for regulatory certainty, investors in the CIS countries can already legally and safely invest in cryptocurrencies. Regulated cryptocurrency exchange enables customers to buy, sell, store and trade top cryptocurrencies including ICOs, DeFi-protocols, and NFT-tokens with leverage up to 100x.

The cryptocurrency exchange offers access to over 2000 markets, including:

  • Top cryptocurrencies.
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The post ETH London Hardfork – When to the Moon? appeared first on BeInCrypto.


All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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