The Ethereum upgrade to London, scheduled for Aug 5, will include the Ethereum Improvement Proposal (EIP) 1559, which will result in a big chunk of the Ether paid for transaction fees being burned or forever destroyed.
The EIP introduces variable block sizes, enabling the network to process transactions more efficiently.Ethereum miners will see a decrease in their profits under EIP-1559, but it will also make Ether more scarce, which will ultimately boost its price.
Due to the upcoming Ethereum network upgrade, ALPEX will suspend deposits and withdrawals for ETH and ERC-20 tokens at approximately 19:30(GMT+8) on the 5th of Aug, 2021. Please ensure that you leave sufficient time for your recharges and withdrawals to be fully processed in advance.
If no new token is created, ALPEX will then resume ETH and ERC-20 tokens deposits and withdrawals as soon as possible.
We apologize for any inconvenience caused and thank you for your patience!
Kind Reminder:
1. At block height 12,965,000, or approximately 19:55 (GMT+8) on the 5th of Aug, 2021, the Ethereum (ETH) blockchain is scheduled to undergo the London Hard Fork.
2. The estimated time is for users’ reference only and is subject to change depending on block propagation times.
3.Trading is not affected during the above-mentioned period.
Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously. Not a financial advice ;)
