13 Exchanges Have Confirmed Support For The Ethereum Constantinople Upgrade


The Ethereum Constantinople upgrade has been the talk of the Ethereum community for a long time now. Finally, the fork is going to take place in the new week. Keep in mind that the upgrade was finalized in August 2018. In October, it was tested vigorously. During the test, the Ethereum developers discovered some bugs in the programming. This shifted the upgrade to January 2019. While January 16th, is the predicted date for the fork, the only thing that is certain is that the upgrade will take place after the mining of block 7080000. The number is currently 44 061 shy of 7080000.


Exchanges Start Declaring Support For The Constantinople Upgrade


Ahead of the upgrade, thirteen cryptocurrency exchanges have declared support for the hardfork. One of the first exchanges to announce their support was OkEX. The announcement was as follows:
“We will be supporting the Ethereum (ETH) Constantinople hard fork. We will take a snapshot of our OKEx accounts when the block gets to 7080000. This is estimated to happen between January 14th and 18th of January.”


Shortly after, Huobi announced:“Huobi Global will be supporting the Ethereum Constantinople hard fork. When the upgrade starts, airdrops, if any, will be distributed by Huobi Global after we receive it. We recommend that our users deposit ETH to Huobi Global as we would be available to assist our users incase they face any difficulties.”


This announcement came almost the same time as the announcement by the London-based cryptocurrency exchange, CEX.IO came in. The exchange said that they are already making the required adjustments to support the Ethereum Constantinople hard fork and make sure that customer funds are safe during the process.

Ethereum (ETH) Price Today – BTC / USD
Name Price24H (%)
Ethereum (ETH)
$226.43
0.81%


Some other exchanges that have declared support for the upgrade are BitMart, Bittrex, OKCoin, Binance, ABCC, BiBox, Cryptopia, BitForex, Catex, Wallet, Koinex, IDAX, WazirX, EtherFlyer, TOK, Indodax, and HotBit. Many other exchanges have started preparing ahead of the fork but not all have announced their support. Sons others will announce their support tomorrow.


Keep in mind that this fork is expected to be a non-contentious one. What this means is that there was a consensus within the Ethereum development community so there will be no new blockchain or cryptocurrency as it happened with the Bitcoin Cash fork.


When the Bitcoin Cash network was upgraded in November 2018, there was a war between two different development teams. One was the Bitcoin Cash ABC and the other was the Bitcoin Cash SV. This war had a ripple effect of the entire cryptocurrency market. The market is yet to recover from this war.


With the Constantinople upgrade, the Ethereum community doesn’t need to worry about making special preparations for a new coin or a new blockchain. If users have no interest in participating in the fork, they should make sure they allow enough time to pass before they make deposits or withdrawals of ETH on any exchange. Some exchanges will stop the deposits and withdrawals before the fork.


Ethereum (ETH) Price Analysis


At the time of writing, the price of ETH was $125.59. This means it is down by 1.38% against the USD and down by 1.50% against the BTC. The trading volume over a 24 hour period is $2,041,049,266 and the total market capitalization is $13,105,463,426. The fork was meant to cause a spike in the price of ETH but investors seem to have started a panic sell-off.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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