As Ethereum Burns, Are We Experiencing A New Market Force
Total Ethereum burned

As Ethereum Burns, Are We Experiencing A New Market Force

By Justin Horneker | CrytoRunner | 5 Aug 2021


Ethereum has successfully implemented the London Hard Fork - I explained what that is earlier this week if you need a refresher. 

As of this writing over 2000 Ethereum has been "burned" since turning on the EIPs associated with today's hard fork. If you're like me and have been checking your ETH account today, you may have noticed that the ETH market has soared and is showing no signs of resistance as it approaches $3k.Watch Ethereum Burn!

We have known for a while that London would trigger a market reaction but seeing it completely decouple from BTC has been a sight to behold. It makes you wonder if future EIPs will trigger the same price action as we progress along the ETH 2.0 roadmap. 

We always associate Bull markets with Bitcoins Halvening, but maybe we can start considering changes in the ETH protocol as market events as well.

There is still so much in the Crypto space that has no prior precedent to rely on for predictions and I won't try that here but watching the market react is sure to bring a smile to even the most hardened BTC maximalist's face. 

I hope you are all strapped in, it isn't unreasonable to expect ETH to reach its ATH again as we march towards updates along the blockchain. 

What do you think will happen to ETH over the next 2 weeks?

 

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