Ethereum completes London upgrade, block chain concept stocks skyrocket

According to news on August 6, at 20:33 pm on August 5, EST, Ethereum reached a block height of 12,965,000, activating the London hard fork network upgrade. According to the ZB Research Institute, this upgrade includes 5 Ethereum Improvement Proposals (EIP), namely EIP-1559 (handling fee improvement plan), EIP-3198 (BaseFee opcode), EIP-3529 (reduced Gas refund), EIP-3541 (rejecting the creation of new contracts starting with 0xEF bytes, serving the Ethereum object format), EIP-3554 (delaying the difficulty bomb until December this year).

ZB Research Institute believes that the successful fork of Ethereum marks the renewed activity of the cryptocurrency trading market. Ethereum will continue to challenge Bitcoin’s trading position after the upgrade is completed. Affected by this, the global cryptocurrency trading volume has surged. Traditional industry giants are accelerating their deployment in the blockchain industry. According to statistics from ZB Currency (ZB), due to the prosperity of the market, U.S. stocks’ blockchain concept stocks generally closed up. Kodak closed up 3.32%, Accenture closed up 1.12%, overstock.com closed up 4.55%, Riot Blockchain closed up 2.69%, Marathon Patent closed up 9.58%, and Square closed up 5.78%.

On August 6, the Central Bank of Venezuela said in a statement on Twitter that the tweet stated that from October 1, 2021, the “digital bolivar” will begin to circulate. It will use the currency scale to remove six zeros from the national currency to combat currency inflation.

On August 6th, the People’s Bank of China revealed at the work conference in the second half of 2021 that it will steadily advance the digital RMB Winter Olympics scenario pilot. Under the overall coordination and coordination of the head office’s R&D working group, the People’s Bank of China will strengthen communication and coordination with local governments, and continue to strengthen the vertical Communicate horizontally and accelerate the promotion of digital RMB pilot work to achieve full coverage of scenarios. Continue to deepen the establishment of a central bank under the rule of law.

ZB Research Institute believes that compared with the digital legal currency countries headed by China, the current global digital legal currency process is not uniform. So far, the United States is still arguing about whether to conduct digital dollar research. The need to establish a central bank digital currency is highly skeptical. He believes that the central bank digital currency of the Federal Reserve may reduce the intermediary role of commercial banks. Denied the view that “the U.S. dollar’s status will be affected without the central bank digital currency of the Federal Reserve.”

But the future of digital currency is unquestionable. The Fed’s attitude towards digital currency determines that the US dollar will continue to lose its dominance in the world for a long time to come.

In sharp contrast with the Federal Reserve and many traditional American capital forces, Invesco, an asset management company, has filed a Bitcoin ETF application with the US Securities and Exchange Commission, holding GBTC and futures. According to statistics by the ZB Research Institute, There will be at least five to ten similar ETF applications this Friday night.

The prosperity of the global cryptocurrency trading market has attracted more institutions to deploy the cryptocurrency trading field.

On August 6, it was reported that Mi Store Portugal, Xiaomi’s official retailer in Portugal, recently started accepting cryptocurrency payments. Customers can now use Bitcoin, Ethereum, Tether and Dash to buy Xiaomi devices such as smartphones, vacuum cleaners, and smart watches.

On August 6, Virtu Financial, one of the world’s largest high-frequency trading institutions and market makers, has aggressively entered the cryptocurrency market. According to data obtained by the ZB Research Institute in Virtu Financial’s second-quarter financial report, it has been making markets in major cryptocurrency trading venues. Compared with the first quarter, its cryptocurrency market making volume increased by 100% in the second quarter.

On August 6, Coinbase announced a new integration with Apple Pay and Google Pay. Now, when users who have linked any Visa or Mastercard debit cards in Apple Wallet make transactions with Coinbase on their mobile phones, Apple Pay will automatically appear as a payment method. Before the third quarter of this year, users are expected to be able to use Google Pay to purchase cryptocurrencies.

On August 6th, Bloomberg Intelligence’s Bloomberg Crypto Outlook report this month continues to be bullish on Bitcoin, saying that the trend shows that BTC is expected to exceed $100,000. ZB Research Institute believes that the continuous increase in market transactions and institutional layout are sufficient to support a substantial increase in the price of Bitcoin. But rising to the $100,000 position still needs more market news.

In the field of minerals, according to the ZB Research Institute learned on August 6, the cryptocurrency mining company and data center Talen Energy Corporation expects to invest 350-400 million U.S. dollars to develop up to 300 MW of zero-carbon Bitcoin mining capacity and promote clean energy. Integration with digital infrastructure assets. The first phase of NautilusCryptomine is to invest between US$350 million and US$400 million to build a 180-megawatt Bitcoin mining facility.

ZB Research Institute believes that the integration of clean energy and digital infrastructure assets that Talen Energy Corporation wants to build is to cope with the difficult situation of the shortage of miners faced by the cryptocurrency POW mechanism after the global energy shortage. According to the statistics of ZB Research Institute, in the process of the comprehensive transfer of China’s mining industry to the world, the global cryptocurrency market value has lost more than 700 billion U.S. dollars. Therefore, how to protect the energy supply of the mining industry will still be a matter for most practitioners in the future. One of the issues to consider.

 

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/ethereum-completes-london-upgrade-block-chain-concept-stocks-skyrocket/
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