NEW!Incredible offer for our exclusive subscribers! Read More

London Hard Fork Will Trigger ‘Enormous’ Run-Up in Demand and Value of Ethereum, Says ConsenSys Founder Joseph Lubin

1 Mins read

ConsenSys founder Joseph Lubin believes that Ethereum’s value will surge, as he expects the leading smart contract platform to face exponential demand ahead of its August upgrade.

In an interview with CNBC, Lubin says that his team is seeing a steep rise in interest from those who wish to build on the Ethereum (ETH) platform and that demand for ETH is also growing.

This phenomenon, coupled with the upcoming London hard fork which will effectively make ETH a deflationary asset, will boost the price of Ethereum significantly, says Lubin.

“We’re seeing exponential demand for the Ether token to run transactions, to run programs on the network, on top of essentially massively decreasing supply. So we anticipate that there will be an enormous run up in demand and the value of Ether.”

In the second financial quarter of 2021, the Ethereum network settled over $2.50 trillion in transactions, notes Altcoin Daily host Austin Arnold in a new video.

Although development and interest in the Ethereum platform have only increased in Q2, ETH’s price has not reflected that growth, says Arnold. Today, Ethereum is trading under $2,000 – well below it’s all-time high of over $4,000 in May.

The host suggests that this disparity is due to the rapid increase in demand for stablecoins on the Ethereum network, implying that holders are moving their funds out of ETH and into the dollar-pegged cryptocurrencies.

Lubin believes that the divergence of price from interest for Ethereum could change when the upgrade debuts on August 4th.

Related posts
AltcoinsBTCCryptoETHMiningOther protects your money

1 Mins read, it is at the forefront of the cryptocurrency industry By analyst For instance, it is at the forefront of the cryptocurrency industry…

Will Cardano Lose This Critical Support? Here’s the Next Bearish Target (ADA Price Analysis)

1 Mins read
Cardano’s price continues its downtrend and seems about to fall below a critical support level that may take ADA below 40 cents. Key Support levels: $0.42, $0.38    Key Resistance levels: $0.47, $0.50  Buyers have failed to stop the downtrend and ADA is facing a critical level. If sellers manage to break below $0.42 and

Exycrypt Exchange Moves to the Next Level

2 Mins read
A subsidiary of the Exycrypt cryptocurrency exchange called HBIT. Inc has received its Money Services Business (MSB) license. From the United States…
Power your team with InHype

Add some text to explain benefits of subscripton on your services.

Leave a Reply

Your email address will not be published. Required fields are marked *