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Token burning is gradually becoming a vital phenomenon in the digital currency ecosystem, and it is set to place the Ethereum coin as a deflationary asset. The much-awaited Ethereum Improvement Protocol (EIP) 1559 upgrade has just gone live, ending months of anticipation for its arrival amongst the network users and investors.
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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.ETH/USD 1-hour candle chart (Bitstamp). Source: TradingViewData from Cointelegraph Markets Pro and TradingView showed ETH/USD climbing swiftly to local highs of $2,820 on Bitstamp Thursday.The sudden burst of
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All eyes today are on Ethereum as the long-awaited EIP-1559 launches for the first time. The supply-focused update could result in a the start of a spectacular show that could last another several months. A fractal has potentially appeared that mimics the price action just ahead of the most recent explosive
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The London hard fork arrived almost on schedule at 12:33 pm UTC on Thursday at block height 12,965,000, ushering in the Ethereum Improvement Proposal (EIP) 1559.With the upgrade triggered, Ethereum will now undergo a significant overhaul of the network’s transaction fee market and other parameters such as gas refunds among others.
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Bitcoin (BTC) headed lower on Aug. 5 after an attempt to reclaim $40,000 failed to garner buyer support.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewAccumulation recalls October 2020Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dropping to local lows of $38,700 on Bitstamp, down around 1.5% in several hours.The largest cryptocurrency
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ConsenSys founder and Ethereum (ETH) co-founder Joseph Lubin has implied that Ethereum is transitioning to “ultrasound money” status ahead of the London hard fork slated to activate around 12:30 pm UTC Aug. 5. During an interview with Bloomberg TV, Lubin was questioned on the imminent EIP-1559 upgrade, which will see Ethereum
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Ethereum started a strong rally above the $2,550 resistance against the US Dollar. ETH price is now consolidating gains and it could rise further towards $3,000. Ethereum gained pace after it broke the key $2,550 resistance zone. The price is now trading well above $2,600 and the 100 hourly simple moving average. There
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Crypto Analyst Nicholas Merten recently said in a video analysis session on YouTube that Ethereum’s price is poised to explode. Merten pointed out that price analysis really isn’t the reason that the number 2 cryptocurrency is set to explode, but what the market dominance shows that actually shows this. This
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The highly anticipated Ethereum London upgrade will get activated on August 5 as earlier scheduled. The London hard fork will usher in a plethora of improvements to the network and possibly make ether (ETH) a deflationary asset just like bitcoin (BTC). Ethereum London Hard Fork Goes Ahead After several months of anticipation
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