Bitcoin
BTC$69 115.56

0.49%

Ethereum
ETH$3 736.98

0.02%

Tether
USDT$0.999911

-0.01%

Binance Coin
BNB$601.29

-0.11%

Solana
SOL$167.86

0.41%

USD Coin
USDC$1.000011

0%

Ethereum London upgrade launches on testnet as 100K staked in a day on Eth2


25 Jun 2021

#Ethereum

The Ethereum community is anxiously awaiting the mainnet launch of EIP-1559. Ethereum’s forthcoming London upgrade, containing the highly-anticipated Ethereum Improvement Proposal (EIP) 1559, has been deployed on the Ropsten testnet. Following the June 24 launch on Ropsten, London is now expected to progress through Ethereum’s Goerli, Rinkeby, and Kovan testnets at roughly weekly intervals — from which point the Ethereum community expects a date for mainnet deployment to firm up.

The new upgrade will see transaction fees burned. According EIP-1559 tracking website, Watch the Burn, roughly 88,500 testnet ETH nominally worth $177.6 million has been burned on Ropsten over the day since London’s deployment.

The high rate of Ether being burned on Ropsten has reignited discussion regarding whether EIP-1559 will render Ethereum deflationary — where more ETH is destroyed than new supply enters into circulation — and what this could mean for Ethereum’s price moving forward.

However, EIP-1559 is not the only upgrade that the community is looking forward to from London, with David Mihal of CryptoFees describing EIP-3074 as “fixing one of Ethereum’s most overlooked security issues” to do with approvals.

Coincidentally or not, crypto data aggregator, CryptoQuant, identified that 100,000 Ether had been deposited into Eth2's staking contract around the same time as the launch, worth roughly $200 million. CryptoQuant also noted that more than 5% of ETH’s supply is currently locked in staking worth approximately $11.75 billion.

 


Related

Crypto may be ready for a new leg down
Crypto may be ready for a new leg down
Cryptocurrencies wait for a signal
Cryptocurrencies wait for a signal
What are dynamic NFTs?: Use cases and examples
What are dynamic NFTs?: Use cases and examples
Shanghai Upgrade Fires Up ETH and Altcoins
Shanghai Upgrade Fires Up ETH and Altcoins
Challenges of data accessibility in the NFT market
Challenges of data accessibility in the NFT market
Is the A.I. revolution about to pump Nvidia stocks?
Is the A.I. revolution about to pump Nvidia stocks?
Five tips for investing during a global recession
Five tips for investing during a global recession
What is NFT ticketing and how does it work?
What is NFT ticketing and how does it work?
The crypto market is cheaper than a trillion again
The crypto market is cheaper than a trillion again

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 80.4% 30 $69 115.56 0.49% 3.25% $1 361 818 240 549 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 74.8% 49 $3 736.98 0.02% 19.82% $448 933 629 251 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92.4% 1 $0.999911 -0.01% -0.03% $111 927 378 193 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 90% 6 $601.29 -0.11% 4.00% $88 741 371 765 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 67.2% 62 $167.86 0.41% -2.55% $75 438 521 039 SOL 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 93.6% 1 $1.000011 0% -0.01% $32 731 029 043 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 90% 5 $0.541413 1.09% 3.94% $30 010 774 379 XRP 7 days price change
8 Dogecoin (DOGE) DOGE Dogecoin predictions 77.2% 35 $0.169647 3.59% 11.12% $24 503 943 727 DOGE 7 days price change
9 Toncoin (TON) TON Toncoin predictions 68% 72 $6.37 0.18% -0.02% $22 147 967 067 TON 7 days price change
10 Cardano (ADA) ADA Cardano predictions 86.4% 19 $0.460684 0.45% -4.42% $16 441 438 482 ADA 7 days price change
11 Avalanche (AVAX) AVAX Avalanche predictions 76% 46 $38.18 0.53% 2.77% $15 001 353 199 AVAX 7 days price change
12 SHIBA INU (SHIB) SHIB SHIBA INU predictions 78.4% 35 $0.000025 1.49% -0.26% $14 599 027 435 SHIB 7 days price change
13 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 84.8% 29 $69 096.38 0.39% 3.24% $10 742 867 877 WBTC 7 days price change
14 Polkadot (DOT) DOT Polkadot predictions 80.4% 27 $7.38 1.96% 3.25% $10 610 714 859 DOT 7 days price change
15 Lido stETH (STETH) STETH Lido stETH predictions 92.4% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2024 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.