Similar , exchanges and Deposits and withdrawals will be temporarily suspended and tokens -20 before The Merge.

and Deposits and withdrawals will be temporarily suspended and tokens -20 before The Merge

Notice from FTX

FTX will temporarily suspend token deposits ETH and ERC-20 about half an hour before the Bellatrix upgrade at 18:34:47 PM on September 6, 2022 (UTC) and the Paris upgrade afterwards.

Specifically:

  • ETH and ERC-20 spot trading, spot margin trading and trading will not be affected.
  • After the merge, one or more PoW ETH forks may appear. If a standard PoW ETH fork goes live, FTX will credit PoW ETH users 1:1 and ETH borrowers will be charged PoW ETH based on their ETH balance since the pre-time snapshot. where the Paris upgrade took place. FTX reserves the right to update POW ETH processing at any time.
  • FTX will evaluate the split-chain PoW ETH listing at a later date.
  • The token “ETH” will be used “official language” for the ETH chain post The Merge.

In general, there are no developments or new stances compared to the previous announcement on August 15 of the exchange.

Announcement from Binance

Similarly, Binance has also announced that it will suspend withdrawals of ETH and ERC-20 tokens at the following two timelines:

  • 06:00 PM on September 6, 2022 at the time of the Bellatrix upgrade;
  • 07:00 AM on September 15, 2022 at the time of the Paris upgrade.
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Regarding the merger, Binance also offers 2 scenarios:

  • Scenario A: No new tokens are created. Binance will reopen ETH and ERC-20 deposit and withdrawal ports as soon as possible.
  • Scenario B: split the chain and form a new token. The token “ETH” will be used for the original chain . Binance will then credit user accounts with a 1:1 split, based on a snapshot of ETH balances prior to the Paris upgrade. Deposit and withdrawal notice will also be announced soon.

To protect users, the token fork will go through the same rigorous listing review process as any other coin/token. In addition, spot, margin, will continue to function normally without being affected.

As explained by Coin68, The Merge is Ethereum's most significant upgrade since its launch in 2015 and will officially end ETH mining with the current energy-intensive Proof-of-Work (PoW) mechanism, replacing it with Figure Proof-of-Stake (PoS) is expected to improve network scalability and be more environmentally friendly than 99%.

To the smooth response of the Necessary includes Goerli (August), Sepolia (July) and Ropsten (June), the Ethereum development team has "closed" the activation date of The Merge. The Bellatrix upgrade, which prepares Ethereum 2.0's Beacon Chain, will be deployed today (September 6). Next, Bellatrix will merge with the existing Ethereum chain through the Paris upgrade at the total network difficulty – TTD 58750000000000000000000, scheduled around September 15-16.

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So we are very close to the historical moment of Ethereum in particular and the whole industry Generally speaking. The price of Ethereum and a series of other coins/tokens is reacting quite positively ahead of the consolidation. Over the past 24 hours, ETH has jumped over 5% and is trading around the $1,661 mark on Binance.

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