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BTC’s down, but ETH’s okay.Despite bullish sentiment extending into August, the price of Bitcoin underwent a slight correction and is currently hovering around the $39k zone. Ether, however, looks to extend its record-long winning streak in the run-up to the much anticipated yet highly controversial London Upgrade, which has earned consensus amongst broader markets as long-term bullish for ETH. While Ether takes center stage, it is worthwhile to give some thought to how the change in fee structure could potentially affect layer 2 scaling solutions such as Polygon. Past metrics indicate that Polygon adoption is closely correlated to Ethereum’s gas fee. Polygon has proposed its own implementation of EIP-1559, and is considering transferring the base fee to the network’s DAO to help fund protocol development. Its native token, MATIC, has staged a decent recovery in July, and should the bullish momentum continues, it will likely revisit the key level at $2.