Ethereum London upgrade launches on testnet as 100K staked in a day on Eth2
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.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 84% | 21 | $54 350.87 | 1.05% | -7.12% | $1 073 495 550 524 |  |
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|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 80.8% | 33 | $2 283.98 | 2.34% | -8.14% | $274 811 889 794 |  |
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| 3 |  USDT |
Tether predictions | 91.6% | 1 | $0.999944 | 0.03% | 0% | $118 188 710 793 |  |
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| 4 |  BNB |
Binance Coin predictions | 79.2% | 35 | $495.23 | 1.96% | -5.94% | $72 270 539 772 |  |
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| 5 |  SOL |
Solana predictions | 76.4% | 47 | $128.17 | 2.42% | -4.07% | $59 924 971 955 |  |
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| 6 |  USDC |
USD Coin predictions | 96% | 1 | $0.999981 | 0% | 0% | $34 954 691 861 |  |
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| 7 |  XRP |
XRP predictions | 83.6% | 31 | $0.527396 | 1.40% | -5.85% | $29 707 879 381 |  |
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| 8 |  DOGE |
Dogecoin predictions | 85.2% | 29 | $0.096385 | 4.56% | -4.04% | $14 059 261 054 |  |
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| 9 |  TRX |
TRON predictions | 68.4% | 68 | $0.151941 | 2.21% | -2.91% | $13 177 933 690 |  |
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| 10 |  TON |
Toncoin predictions | 60.4% | 84 | $4.73 | 2.18% | -11.99% | $11 968 620 577 |  |
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| 11 |  ADA |
Cardano predictions | 81.6% | 37 | $0.329522 | 4.06% | -3.61% | $11 849 823 266 |  |
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| 12 |  STETH |
Lido stETH predictions | 93.2% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
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| 13 |  WTRX |
Wrapped TRON predictions | 94.8% | 1 | $0.116354 | -0.46% | 0.23% | $10 171 995 609 |  |
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| 14 |  WBTC |
Wrapped Bitcoin predictions | 93.2% | 1 | $65 806.83 | 0.78% | -2.68% | $10 083 957 608 |  |
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| 15 |  AVAX |
Avalanche predictions | 76% | 52 | $22.19 | 4.74% | -1.01% | $8 993 371 869 |  |
