Chi fall anticipates EIP-1559?

Wednesday, 2021-08-04 11:04 AM CT. The last transaction of Chi Gas on Uniswap V2 traded at a price of 1.6173e-4 Eth/Chi, paying a gas price of 76 gwei on the Ethereum network. The price of Chi continues to fall against elevated gas prices and contracting supply (2,031,988 CHI).

     Chi may be falling in anticipation of the upcoming EIP-1559 upgrade, which changes the transaction fee mechanism on the Ethereum network.  Uncertainty about the continued usability of Chi after the upgrade may have users waiting to see what will happen once the upgrade launches.  The planned should occur in about 20 hours.

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