After activated on August 5, 2021, the London hard fork in the Ethereum network saw the cryptocurrency’s price rise to a local high above $2,800.
The intraday high on Bitstamp stood at $2,820. The coin had traded at that level in early June.
At the time of writing, the price sits near $2,800.
Over the past seven days Ethereum has risen more than 21%, according to CoinGecko.
ForkLog interviewed experts on the eve of the hard fork who disagreed about how the update would affect the coin’s price.
Yuriy Mazur, head of data analytics at CEX.IO Broker, suggested that Ethereum would continue the rise that began even before the event.
Lead EXANTE strategist Yanis Kivkulis also expressed the belief that the hard fork would positively affect the price, but in the short term the asset could face selling pressure and a pullback, he added.
Both experts agreed that the upgrade of the second-largest cryptocurrency would not affect the Bitcoin price, as there is no tight correlation between them anymore.
The price of digital gold sits at around $39,500 after reaching a local maximum above $42,400 on July 31.
Joseph Lubin, CEO of ConsenSys, said that Ethereum would be orders of magnitude larger than the flagship cryptocurrency and already surpasses it in several metrics.
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