Malta-based Binance to support impending Ethereum Constantinople upgrade

The largest cryptocurrency exchange by adjusted volume has today announced that is going to support the upcoming Ethereum (ETH) upgrade. Ethereum developers have been working on developing the upgrade that was to be launched in November 2017 but ran into technical challenges forcing the team to suspend it. However, before the end of the year last year, the developers told the crypto community that they had reached a consensus allowing the upgrade to take place at the Hard Fork Block Height: 7,080,000 that is likely to go live between 2019/01/14 and 2019/01/18.

“Binance would like to confirm support for the upcoming Ethereum Constantinople Hard Fork. Please leave sufficient time for deposits to be processed in full prior to the block height shown below. We will handle all technical requirements involved for all users holding Ether in their Binance accounts.”

The announcement continued:

“Should there be any other hard forks or airdrops during the Constantinople hard fork period, we invite these respective project teams to contact us…”

Ethereum price overview

Ethereum is seen trading at $152 after retracing from the 2019 high at $160. The price made an incredible rise from January 1 from the support at $130 and tested the resistance at $160. It added over 7% on Wednesday but has been unable to correct past the mentioned key hurdle at $160. There is an ongoing bearish move that could slide below $150 in the short-term. Besides, if the price breaks past the support, both the trendline and the 50-period simple moving average (SMA) will try to stop the declines. However, further declines will come into contact with $100 while last year low around $81.5 is the primary support.

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