Ethereum (ETH) Recaptures $3,000 After “London” Hard Fork Goes Live

Yuri Molchan

ETH has surpassed the $3,000 level, recapturing the highs reached earlier this year after the new major upgrade

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Sat, 7/08/2021 - 9:17

Ethereum (ETH) Recaptures $3,000 After “London” Hard Fork Goes Live

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The second largest cryptocurrency by market cap, Ethereum, has just broken above the $3,000 resistance level, turning it into a support line, on the Binance exchange.

After reaching an all-time high of $4,293 on May 12, ETH has been in decline and hit a bottom at the $1,739 level on June 26 and July 20.

Ethereum's EIP 1559 as Seen by Crypto Twitter

The current growth of Ether has been fueled by the implementation of the EIP-1559 (also known as the “London” hard fork) earlier this week and the positive prospects it opens for Ethereum in the future as the network is moving towards the long expected Ethereum 2.0 upgrade.

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About the author

Yuri Molchan

Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets. His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.