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Daily crypto overview: Ethereum upgrade occured, Facebook coin is far
DAILY
March 01  |  1 min read

Anticlimax

BeQuant Analytics, a daily cryptocurrency market analysis contributor

According to ethstats.net, the Constantinople and St. Petersburg network upgrades for the world’s second largest cryptocurrency, Ethereum (ETH), occurred on Feb. 28th and, despite the build-up, had only a negligible impact on the underlying price. As per the plan, the updates went live on the main network at block 7,280,000. As it stands, only 22.3% of Geth and Parity clients are reportedly running the Constantinople-compliant version.

As mentioned earlier, even though the price action was rather choppy for much of the day, the swings that cryptocurrency market participants have learnt to expect when trading crypto did not materialise. Heading into the final hours of trade in February, Bitcoin is up just over 10%, while Ethereum is up nearly 30%. BitcoinCash is up 13%, however it remains to be seen whether the positive momentum will continue given the upcoming hard fork in May.

Finally, the New York Times reported that Facebook, Telegram, and Signal are planning to roll out new cryptocurrencies over the next year meant to allow users to send money to contacts on their messaging systems. What’s more is that according to sources, Facebook’s project is far enough along that the tech giant has held conversations with cryptocurrency exchanges about selling the Facebook coin to consumers.

Thank you for reading,

BeQuant’s Analytics team