Ether’s (ETH) price rallied 50% leading in the London hard fork because many investors expect the upgrade to solve the issue of high transaction fees and make the altcoin a deflationary asset. Pantera Capital CEO Dan Morehead has predicted that the upcoming upgrade would likely cause Ether to “flip” Bitcoin (BTC) as the leading cryptocurrency, but this is a topic under heavy contention. To understand the impact of the recent price movement, traders should analyze the weekly options expiry. Deribit derivatives currently hold an 86% market share in this segment, and the aggregate open interest for Friday currently stands at …
The Ethereum network will undergo a major upgrade on Aug. 4, as the long-awaited London hard fork is expected to launch at block 12,965,000. The transition is part of a roadmap leading to the Ethereum 2.0 release, which aims to migrate the network to a proof-of-stake consensus mechanism. By no longer depending on the intense energy-consumption mining, the main goal is to drastically increase the network's capacity by using parallel processing, also known as sharding. The upcoming London upgrade will implement the critical Ethereum Improvement Proposal EIP-1559, making Ether (ETH) gas costs more predictable. This controversial change includes a transaction …
Following the successful Ethereum Istanbul hard fork update, several popular exchanges have announced their official support for the network upgrade. Yesterday, on Dec. 7, the Ethereum’s network saw ample collaboration between node operators and miners to update the software to support the Istanbul hard fork. Some crypto exchanges even sounded their willingness to update a few days prior to the scheduled hard fork. A widely supported hard fork Notably, Binance announced support for the upgrade on Dec. 5 and the day afterwards its U.S. subsidiary did the same. Coinbase also tweeted yesterday that Ethereum and ERC20 deposits and withdrawals have …
Major United States cryptocurrency exchanges Coinbase and Kraken became the latest to confirm support for Ethereum’s (ETH) Constantinople hard fork, both announcing on Twitter, Jan. 14. The two major exchanges join Binance, Huobi and OKEx in pledging to monitor the event, which will trigger at Ethereum block height 7,080,000, expected this week. “Coinbase intends to fully support the Constantinople Ethereum (ETH) upgrade,” staff wrote in the post, adding: “Upon commencement of the upgrade, for security and technical purposes, we will temporarily pause sending and receiving ETH across all of our trading platforms until the upgrade completes and we confirm security …
Ether (ETH) is the second largest crypto by market capitalization and the absolute leader in decentralized applications by deposits. Becoming a victim of its own success, the network experienced a fee hike in November 2021 when the average transaction costs surpassed $50. That's precisely why the Merge is a critical step to implementing a fully functional scaling solution. The confirmation of a transition to a proof of stake (PoS) consensus was the main driver for the rally toward $2,000 on Aug. 15. Investors were partially excited about the reduced issuing schedule and likely a transition to a deflationary scenario, but …