Wednesday, September 29, 2021
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New update gives the ETH course a boost

The Ethereum network was updated this Wednesday. A new fee mechanism ensures that from now on, Ether tokens are continuously destroyed when transactions have taken place. This gave the ETH course a noticeable boost.

Finally, the Ethereum blockchain has been updated with the long awaited Ethereum Improvement Protocol (EIP) 1559. Above all, the update brings about a change in the way in which the transaction fees are calculated.

So far, users have had no way of estimating the fee required in each case before a transaction. This was always accompanied by a certain amount of uncertainty about the timing and costs of a transaction. Thanks to the update, however, Ethereum now has a fee structure that is visible to everyone.

Through this “destruction”, the total amount of all available ether tokens is continuously reduced. This artificial shortage should in turn have a positive effect on the ETH price. This creates a greater attraction for investors to invest in Ethereum.

Buy Ethereum through eToro

Investors who want to benefit from this new development and want to buy Ethereum can do so, for example, via the online broker eToro. This only takes three small steps.

to register

eToro registration

First you have to register on the eToro website using the registration form provided for this purpose. In addition, eToro needs a verification of the information provided. However, the entire process takes place online.

Deposit money

eToro deposit

In order to be able to invest in cryptocurrencies and other assets, you first have to top up your own trading account with eToro. Various deposit options are available for this purpose. Customers can z. B. between a transfer, payment by credit card or different payment service providers such. B. Choose PayPal.

Buy Ethereum

eToro cryptocurrencies

To buy Ethereum at eToro, all you have to do is enter “Ethereum” or “ETH” in the corresponding search bar on the trading page of the platform. You then get to the purchase screen. There you can specify the type of transaction and the desired scope and complete the trade.

Ethereum price continues to rise

The ETH price has been on an upward trend since June 20. After the latest update, the course has again received new momentum.

After EIP 1559 was uploaded to the Ethereum blockchain, the price has risen by around 14.5 percent to this day, Friday. This morning there was some slight profit-taking afterwards. ETH is currently trading at $ 2,727.

Strengthened by the deflationary pressure due to the continuous burning of ETH tokens, the price could continue its positive development in the coming weeks.

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Florian Schulze

Florian Schulze has a degree in international politics and economic policy and is currently studying mathematics. ETFs, stocks and cryptocurrencies are his passion.

Hasan Sheikh
Hasan, who loves technology and games, is studying Computer Engineering at Delhi JNU. He has been writing technology news since 2016.


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