Ethereum Price Struggles As London Hard Fork Looms, Falls 4% To Lose $2,300 Hold

A recent market crash has seen the price of ethereum crumble as the market prepares for the launch of the London Hard Fork. The fork has been scheduled to go live on August 4th this year and so far, investors seem to be very interested in this move. Demand for ethereum has gone up in the past weeks, but even this demand has not seemed to be able to hold up the price of the

Coin

‘ href=”https://www.newsbtc.com/dictionary/coin/”>coin subsequently fell back down to the $2,300.

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Market enthusiasm seems to have held the

Coin

‘ href=”https://www.newsbtc.com/dictionary/coin/”>coin remains in bearish territory.

Recent news coming out of the market shows ethereum keeps growing in popularity, showing that the protocol had added 5 million new and unique addresses in the span of 30 days. Even this seemed to not have had much of an impact on the

Bear

‘ href=”https://www.newsbtc.com/dictionary/bear/”>bear market.

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The current drop seems to be attributed to the fact that investors are starting to believe that the hard fork will experience another delay. The Ethereum technological upgrades have been riddled with delays so far. The founder Vitalik Buterin stating that the cause of the delay has been the people involved in the project. Citing internal team conflicts being the major reasons in the past five years.

Despite this, ETH 2.0 continues to surge onward with its upgrades. Investors continue to stake their coins with current numbers sitting at 6.1 million of ethereum have already being staked. The dollar equivalent value for this converts to over $13 billion currently staked in ETH 2.0.

Featured image from NewsBTC, chart from TradingView.com

Source: https://www.bitcoinnewsminer.com/ethereum-price-struggles-as-london-hard-fork-looms-falls-4-to-lose-2300-hold/