After being canceled for two times already, previously postponing the fork due to the vulnerability in the smart contract code for certain actions, as discovered and alerted by ChainSecurity, Constantinople hard fork is once again being patiently anticipated.
After the last postponing of the upgrade in January, the dev teams behind one of the most important upgrades for Ethereum network, have rescheduled the hard fork once the block height reaches 7,280,000, which means that the upcoming update should take place anywhere between February 26th and February 28th.
In the meanwhile, the market is showing a positive return in the last seven days, however, not all cryptos are able to take a rebound against the fiat with the latest positive market trends.
Despite going up in the last seven days, Ethereum is once again seen following a downward trend, even though plummeting by less than -1%.
On the other hand, ETH is spinning by nearly 15% in the course of the last week, still keeping the rank of the 2nd-best cryptocurrency.
Ethereum Showing a Positive Weekly Return, Constantinople Less Than Two Weeks Away
Perhaps driven by the anticipation as many ETH holders are waiting to see what Constantinople will bring to the market value of ETH upon taking place at the end of the month, ETH is showing a positive weekly run for the past seven days.
That is how despite divided trends in the market, Ethereum managed to come to the surface with gaining almost 15% to its value in the last seven days. Additionally, ETH is down by -0.30% in the course of the last 24 hours, which is not affecting the weekly gains in a significant way by far.
Moreover, despite postponing the fork twice in the past several months and the active cryptocurrency winter that made many small-cap investors fled the crypto market, Ethereum is showing a positive return by 14% in the last two weeks, also recording 1.2% of gains in the course of the last 30 days.
As for the period of the last two months, Ethereum seemed to have recollected a reasonable portion of previous losses that cost it the 2nd spot on the list of top cryptos, recording the amazing 43.6% of gains against the fiat.
Ethereum is still trading above the price of 120$, currently valued at 122$ with the latest change in the market.
What Constantinople Means for Ethereum (ETH)?
Constantinople is one of the most significant updates for Ethereum network, and it should serve the purpose of preparing the network for migrating from proof of Work mechanism to a more energy-efficient and cost-effective Proof of Stake.
Additionally, after the updates that should follow after Constantinople update, the network should be able to exponentially grow with the growing number of users, also allowing faster transactions, with the ultimate plan of achieving the goal of 1 million transactions per second.
Altogether, Constantinople should set the foundation for a highly scalable environment that Ethereum 2.0 should represent, while many enthusiasts are predicting that this case will also affect the price of ETH to spike.
Image Credit: BitcoinExchangeGuide
