Ethereum hit a new two-month high as excitement mounts for the London Protocol upgrade later tonight.
At 11:12 am AEST, Ether changed hands at just over US $ 2,701, up 7.0% from yesterday and its highest level since June 7.
The London hard fork, which contains the highly anticipated EIP-1559 (Ethereum Improvement Protocol No. 1559), is expected to go into effect around 10:35 p.m. AEST today when block 12,965,000 is mined.
The upgrade will make transaction costs more predictable and “burn” (destroy) a fraction of them, making the network less inflationary.
Members of the Ethereum community were celebrating and scheduling “viewing parties” on YouTube as the upgrade went live.
Tomorrow, Ether will be burnt every time an Ethereum transaction takes place.
I love protocols / products that the community is excited about and actively drives thoughtful upgrades over time.
– The Jiho🦇🔊 (@Jihoz_Axie) August 4, 2021
Remember when $ ETH was 1800 and people said the EIP-1559 price was in lmao
– Pentoshi don’t DM you (@ Pentosh1) August 4, 2021
Crypto mostly in the green
Overall, the crypto market rose 3.4% to $ 1.68 trillion, its highest level since Sunday.
Bitcoin changed hands at US $ 39,359, up 2.4% from yesterday.
Only four of the top 100 coins fell more than one percent, with KuCoin Token the worst performing, down 6.4 percent.
The best winner in the top 100 was Traveler Token, up 17.6% from Wednesday, after the U.S. listed company behind the token announced earlier this week that it had acquired crypto payments firm Coinify ApS for $ 84 million.
Digital travel (CSE: VYGR) is a crypto-asset broker and holders of the VGX token earn interest when held in the Voyager app.
“The acquisition of Coinify will significantly accelerate our expansion in Europe and help us meet the growing demand for our current product offering internationally,” said Lewis Bateman, International Director of Voyager.
Digital world token founded in Australia Illuvium had hit another all-time high, at US $ 289, just like the derivatives trading platform Perpetual Protocol, at US $ 17.57.
$ PERP new all-time record now in price discovery.
Send it for $ 20. pic.twitter.com/e4T7oEjlWr
– McKenna (@Crypto_McKenna) August 4, 2021