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Why Ether Was Going Up Today

TheMotleyFool

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The price of Ether (CRYPTO: ETH), the tokens native to the Ethereum blockchain, was going up on Tuesday. As of 3:20 p.m. EDT today, the price had risen almost 4% over the previous 24-hour period, according to CoinDesk. While a move like this is certainly inside of what's considered normal for volatile cryptocurrencies, we can't discount a major update about a change coming to the network.

At 10:40 this morning, a developer for Ethereum proposed a date for an update called Ethereum Improvement Proposal 1559 (EIP-1559), or the London hard fork. Assuming other developers agree, the update will be scheduled to take place on Aug. 4. The main thing that EIP-1559 should bring is a change to Ethereum's fee structure.

Image source: Getty Images.

Source Fool.com

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