NEWSAltcoin NewsBitcoin NewsBlockchain NewsExchangesOpinion

Binance Confirms Support for the January Ethereum (ETH) Constantinople Hard Fork

Binance Confirms Support for the January Ethereum (ETH) Constantinople Hard Fork 1

The highly anticipated Ethereum (ETH) Constantinople hard fork has been scheduled for the 16th of January but depending on the target block height of 7,080,000, it could happen a few hours before or after the scheduled date. The enormity and excitement surrounding the upgrade has resulted in ETH gaining significantly in the past 2 weeks or so.

Binance Announces Support for the Constantinople Hard Fork

Popular cryptocurrency exchange of Binance has announced that it will be supporting the Constantinople hard fork. The exchange asked holders of ETH to allow sufficient time for deposits to be processed in full before the aforementioned block height is achieved. The exchange went on to assure traders that they will handle all technical requirements related to the event.

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

Possibility of Other Hard Forks and Airdrops During the Upgrade

The Constantinople hard fork has been lauded for achieving consensus across the Ethereum community. However, there is a slim chance that their might be other hard forks as developers and other Ethereum community members wish to carry out their own versions upgrading the Ethereum network. Binance has therefore added the following information in case of such outcomes.

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 airdrop@binance.com for further discussion.

Ethereum’s Market Performance Since December 2018

Mid December last year found ETH in the number 3 spot according to market capitalization. This was after XRP edged out the King of Smart Contracts from the number 2 slot as the bear market accelerated with BTC trading at $3,200 on the 15th of December. At the same time, ETH was trading at around $83.

However, due to the certainty of the hard fork that will involve significant enhancement to the network, there has been a renewed interest in ETH that has resulted in the digital asset reclaiming the number 2 spot just a day ago.

ETH is currently valued at $153 which is a 84.3% increase in a period of less than three weeks when compared with the $83 value witnessed mid December. With another 2 weeks to the hard fork, the digital asset might continue to make gains in the crypto markets as excitement and curiosity around the event hits the crypto community.

What are your thoughts on Binance supporting the Constantinople hard fork? Please let us know in the comment section below. 

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

About author

Crypto Enthusiast. Terrible dancer. Former DJ. Amateur Marathoner. Electrical Engineer. Kool kat. Email me at john@ethereumworldnews.com
Sign up for our Newsletter