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The XRP has recovered the position of the second largest cryptocurrency by market capitalization from ETH just a few days before the update of the fixed fork of "Constantinople" by Ethereum.
Pre-Fork Drop
On January 16th, Ethereum is expected to undergo a system update on the entire network called "Constantinople". Among other things, the implementation of the upgrade will reduce the block premium from 3 ETH / block to 2 ETH / block.
Days before the event, however, Ethereum & # 39; s (ETH) 00 the price has suffered a significant decline.
Within a few minutes, the ETH price fell by around 8%.
The movement caused the ETH to lag behind Ripple (XRP), which recovered its place as the second cryptocurrency by market capitalization, less than two weeks after Ethereum regained its second place in XRP.
In fact, the two have been head to head in recent months in the rankings of the capital cap of cryptocurrency.
XRP 00 it also suffered a decline in the same period, but the cryptocurrency recorded a relatively small loss of 2.5% against the dollar.
& # 39; & # 39 Constantinople; of Ethereum
Constantinople is a planned system update for implementation in the 7.080.000 block. Given the current average blocking time, the event should take place on January 16, 2019.
One of the most discussed changes that the update will cause is the reduction of the block reward from the current 3 ETH / block to the 2nd ETH / block. This is also called the "third". It is the second time that the Ethereum blocking premiums have been reduced.
The first was called "Byzantium" and took place on October 16th, 2017. At that time, ETH increased by 6% during the day, followed by the 2017 rally of the cryptocurrency up to the historical maximum of about $ 1,400.
In total, the update will integrate 5 Ethereum Improvement Proposals (EIP), which are oriented to the resolution of costs, speed, functionality and data mining problems.
Support for "Constantinople"
Several cryptocurrency exchanges have announced their support for the next update of the network.
Binance, HitBTC, Huobi, Bittrex, OKEx, CEX.IO, Cryptopia and Poloniex, have all announced that they will support the Forcella di Costantinopoli.
Many of them advise users to allow sufficient time for their deposits to be processed prior to the upgrade.
At the time of writing this, Gemini, Coinbase and Bitfinex have not yet declared their support for the update.
What do you think of Constantinople and its impact on Ethereum? Do not hesitate to let us know in the comments below!
Images courtesy of Shutterstock; TradingView
