Ethereum has surged forward as London Hard Fork is up and running smoothly. Following the Hard Fork and the implementation of EIP-1559, the price of ETH has continuously run-up, as interest in the Ethereum network grows. The price broke $3K for the first time in over a month during the weekend, which saw the price of bitcoin surge past $44K. ETH price promptly followed the price rally.

Although the price of ETH has fluctuated following this, breaking back down below $3,000, the price has since recovered back up above $3,000. This shows the incredible hold strength being represented at this current price level. Hold sentiments continue to grow across the market.

The proper launch of the EIP-1559 presents the asset with the ability to turn deflationary over time. ETH coins are being burned instead of being sent into circulation, which is effectively reducing the rate at which new ETH coins are being sent into the market. The London Hard Fork changes the monetary policy of Ethereum. Transaction fees are no longer being sent to miners. But are now being burned instead.

Watch the full video for our take on Ethereum price August 2021 and a deeper insight into what to expect in the weeks ahead from our Ethereum price analysis. Drop us a line in the comments with your thoughts on Ethereum August.

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