Ethereum price rises above $2800 amid successful hardfork

August 6, 2021

Ethereum price rises above $2800 amid successful hardfork

The cryptocurrency made a local high above $2800 after the Ethereum network's Aug. 5, 2021, hardforward of London.

he Ethereum network's

On the Bitstamp exchange, the peak was $2820. At this level the coin was trading at the beginning of June.

At the time of writing, the price is near the $2800 mark.

Ethereum has gained more than 21% in the past seven days, according to CoinGecko.

Bitstamp exchange

Experts interviewed on the eve of the hardforge disagreed on how the update will affect the coin's price.

CEX.IO Broker's head of data analysis Yuri Mazur suggested that ether would continue the rise it started before the event.

EXANTE's lead strategist Yiannis Kivkulis also expressed his belief that the hardforward would have a positive impact on the price, but in the short term the asset could face sellers' pressure and a fall, he added.

Both experts agreed that the update of the second most capitalised cryptocurrency will not affect the bitcoin price, as there is no close correlation between the two anymore.

The digital gold price is at around $39,500 after hitting a local high above $42,400 on July 31.

As a reminder, ConsenSys CEO Joseph Lubin said Ethereum will be orders of magnitude bigger than the flagship cryptocurrency and already outperforms it on a number of parameters.

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About the author

Hi there, my name is Zalman Weinberg. I'm enthusiast with over 7 years of experience in cryptocurrencies and blockchain. Professional Trader providing Blockchain solutions to Startups and Enterprises. Expert in all cryptocurrency exchange APIs (BitMEX, Bittrex, Binance, Bitfinex, Kraken, Poloniex, Gdax etc.). I have also worked with multiple Forex broker APIs.

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