Ethereum prepares for upgrade as Cardano takes lead

Bitcoin is currently trading at around $38,000 after seeing a 10% correction from its 1 Aug peak of $42,500. It’s currently down about 1.5% over the past 24 hours and changing hands for around $37,750. There’s significant support at $37,500, but if this fails to hold today then we may see a further slip to around $36,000. If it rises higher again, the $42,000 level that acted as resistance first in early January and now in August is still a tough nut to crack.

Ether has been outshining bitcoin in the last few weeks and saw 13 consecutive days of gains that ended Monday. This was a new record for the cryptocurrency, with the previous record sitting at 10 consecutive daily gains, set back in January 2018. The smart contracts giant is breaking even today and the price continues to hover just below $2,500.

All eyes are now on the long-anticipated upgrade to the ethereum network that was delayed from today until Thursday. The upgrade, technically known as Ethereum Improvement Protocol 1559, or EIP-1559, will make transaction fees more predictable and burn an unknown number of coins, limiting supply. This is not to be confused with the even-longer-awaited Ethereum 2.0, which will see Ethereum transition from a proof of work consensus algorithm similar to bitcoin, to a proof of stake system. It’s hoped that this will reduce the environmental impact and allow the network to become more scalable.

The majority of coins are down today, with only Cardano (ADA) up. ADA is up around 3% today to $1.33.

The Crypto AM London Blockchain & DeFi Summit will be held on the 29 & 30 September…

Day One will be held in two Pavilions hosting the Crypto AM City of London Roundtables so that delegates can meet and network with each other and learn from great discussions and talks.

Day Two will be Summit day (Streamed and live audience) at the Leonardo Royal Hotel, St Paul’s, finishing with the black tie gala dinner in the same venue where the winners of the Crypto AM Awards 2021 will be revealed.

For speaking opportunities, partnership packages or attendance (tickets will be strictly limited and by application) please email:

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using the subject line CRYPTOAM SUMMIT

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