Ethereum [ETH] has been performing immensely well this new year and has taken over the position of being the second-largest coin on the top-10 cryptocurrencies list. Ethereum’s highly anticipated Constantinople hard fork, which is scheduled for January 16, has been speculated to be one of the reasons for the currency’s price pump.
Binance, arguably the popular cryptocurrency exchange, has extended its support to the Constantinople hard fork. The exchange asked ETH holders to allocate enough time for deposits to be processed in full before the mentioned block height is achieved. The company also assured traders of handling all the required technical adjustments related to the fork.
“We will handle all technical requirements involved for all users holding Ether in their Binance accounts.
Hard Fork Block Height: 7,080,000
Estimated Time: Between 2019/01/14 and 2019/01/18”
The much-awaited hard fork had received a green light from everyone in the community, however, the hard fork might also result in several other forks. Developers and members of the community wish to carry out their own versions to upgrade the Ethereum network. According to a report by Ethereum World News, since the target block height is of 7,080,000, the forking could take place before the expected time.
Binance acknowledged the nuances of the ETH community and added further in their announcement:
“Should there be any other hard forks or airdrops during the Constantinople hard fork period, we invite these respective project teams to contact us at [email protected] for further discussion.”
Ethereum was at the third position in terms of market capitalization on New Years but soon witnessed a price hike. Soon, after the market saw a good hike among all major cryptocurrencies, Ethereum welcomed the new year with increased market capitalization and crossed XRP to acquired the second position on the top-10 list.
The upcoming hard fork will improve the network and bring significant changes necessitated by the community. At the time of press, ETH was valued at $153.45, with a market cap of $15.9 billion. The coin has slipped by 0.48% in a day but has registered an overall growth of 21.30% over the past week.
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