- Ethereum’s London Hard Fork upgrade is finally live now.
- The Hard Fork happened at block height 12,965,000.
- Binance announced earlier that it will suspend all ETH transactions.
The much-awaited Ethereum’s London Hard Fork upgrade is finally live now. In detail, the Hard Fork happened at block height 12,965,000 or 12:33 pm UTC today.
EIP-1559 is officially live on Ethereum.
Congrats on this seriously.
— Frank Chaparro (@fintechfrank) August 5, 2021
Notably, the hard fork has also rolled out five new ETH Improvement Proposals (EIPs). However, EIPs 1559, 3554, 3529, 3198, 3541 are code upgrades that focus on improving the user experience of Ethereum’s network.
Moreover, this upgrade has got more media attention compared to other upgrades. Furthermore, the significant growth of the crypto market has helped bring Ethereum to this level. Also, investors are interested in the huge potential the new EIPs could have on the whole network.
While the Ethereum hard fork is ongoing, Bitstamp disabled deposits and withdrawals for ETH and ERC20 tokens. Following this, the crypto exchange clarified its action. Bitstamp said that this measure ensures the safety of users’ funds during the fork as the ETH network will be too unstable to support transactions.
Furthermore, with this upgrade, the ETH price is expected to skyrocket, but there is no upsurge in price right now. According to CoinMarketCap, the ETH price is at $2,598.60, with a 24-hour trading volume of $27,424,564,695, at the time of writing.
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