With the launch of the upgrade project known as the London hard fork, Ethereum started to rise in price.According to CoinDeck, now the cryptocurrency is 2772 dollars for a coin.The maximum Ethereum price for August 5 rose to 2831 dollars.It’s almost on five% more compared to the daily low.
The market capitalization of the cryptocurrency is 324.3 billion dollars.In two days this the figure increased by 21 billion dollars… On the topic of Passion around cryptocurrencies: experts named the main advantages of money of the future Expert opinions on theupdates Ethereum Several cryptanalysts have shared what they think about the update Ethereum and how it will affect the future of cryptocurrency.Martin Gaspard with CrossTower stated that the obvious success of the update is now being evaluated.According to him, the idea that cryptocurrency will become a deflationary asset is now more real, and the impact on the valuation could be significant.
Co-founder and CEO of Nansen Alex Svanevik believes that in order to see the real effect of the London hard fork it will be possible after a while, perhaps weeks.When wallets, bots, etc.will start using EIP 1559 features, we will learn more about how this update will affect Ethereum in the long term, – he added.Head of Analytical Department Synergia Capital Denis Vinokurov noted that in general, the reaction to the update is quite expected, adding that this cryptocurrency very rarely benefits from any immediate benefits after such updates, however, the bias tends to materialize over time.
Whereas Laurent Cassie with 21Shares AG sees an opportunity for a short-term correction against the backdrop of network stabilization before the uptrend recovers.Cassie also noted that there could be a relative value trading investment strategy between Ethereum and Bitcoin.Experts talked about the Ethereum update / Photo Unsplash Analyst Quantum Economics Alexander Lores said there are several reasons for optimism.One of them is the increasing Ethereum deficit, as the value of supply and demand factors in the crypto market will increase in the long term.Digital Asset Expert ByteTree Tom Salter believes this is the largest Ethereum update in recent years.In his opinionEthereum maximalists did not expect this to be implemented.
In addition, hype plays a role.If speak about the future, Salter expressed the hope that the Ethereum society will be able to resolve several controversial issues: – will EIP 1559 provide a deflationary fund for Ethereum, – is there enough tip for “greedy miners”.Pay attention Confrontation of the titans of the crypto market: the expert told whether Ethereum can outshine Bitcoin The president Bensignor Investment Strategies Year of Bensignor stated that the rise in price of a digital coin to a certain extent depends on the theory of market bulls (investors who invest in an asset, rising in price) that is associated with the update.
It is about reducing transaction costs along with decreasing supply.He also added that the price has gone up as traders are in the habit of “sell news”and this is not a well-developed market to know what actually has a long-term perspective..
