Traders predicted the price of Ethereum to be $3,000, but derivatives data indicate that this is not the case Author: Cointelegraph

Ether (Ethereum) Has risen 35% in the past ten days and regained the key $2,300 support level, but the key local high of $2,450 has not been tested since June 17. The recent recovery is partly due to the London hard fork, which is expected to continue live on August 4.

Traders and investors view EIP-1559 released As a bullish factor in the price of Ether, because it is expected to reduce Gas fees. However, Ethereum miners are not excited about this proposal, because the proof-of-work model will no longer be needed after ETH2.0 goes online.