- Vitalik Buterin rejects Constantinople bug as something serious.
- ETH/USD has gained over 11% in the recent 24 hours.
- Intraday RSI points to the possibility of a short-term correction.
Ethereum network developer Vitalik Buterin and several other leading developers of the platform believe that the bug revealed ahead of the upcoming Constantinople upgrade is nothing serious.
Earlier it was reported the revealed vulnerability might affect certain smart-contracts with self-destruction function. Namely, Create2 function from EIP-1014 may redeploy the self-destroyed contract and change its rules, which may lead to the loss of funds.
This issue was raised during the latest video conference of Ethereum dev team; however, the majority of the developers do not think that this vulnerability has serious threats.
“The one thing we need to keep in mind is more for the future when thinking about rents and deletion; that’s a way that can lead to contracts being in a state to being not in a state without a self-destruct operation [“¦]. It’s not something we need to figure out in the next few weeks, but it’s still useful to keep in mind when getting the ETH 2.0 sharding to a VM spec very soon,” Buterin told during the conference while commenting the development of Ethereum smart contracts in the long term.
Meanwhile, ETH is one of the best-performing cryptocurrencies out of top-20 today. The coin has gained over 11% in recent 24 hours, and the upside momentum is gaining traction quickly.
ETH/USD came close to $140.00 handle (the intraday high is set at $139.95) before retracing to $139.01 by the time of writing. The coin is trading above DMA100 for the first time since May 2018, which may be regarded as a bullish signal.
The intraday Relative Strength Index (RSI) shows that the market is massively overbought, which increases the chances for the downside correction with the first target at $138.25 (Pivot Point 1-week Resistance 3) and psychological $138.00. Once below, the sell-off may continue towards $133.00 (the lowest level of the previous 4-hours).
ETH/USD, 4-hour chart
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