Binance announced to halt all deposits and withdrawals of Ethereum during the Merge

Amalia A. Amalia A.
6 Sept 2022
1 min read
Share article:
Cover

Binance announced to halt all deposits and withdrawals of Ethereum during the Merge


Binance, the world's leading blockchain ecosystem, also the largest digital asset exchange, announced to halt all deposits and withdrawals of Ethereum (ETH) and Wrapped Ethereum (WETH) before and during the Ethereum Merge


The tokens impacted during the Merge are ETH (Arbitrum), ETH (OP) and WETH (RON) and according to Binance, this measure is temporary and they are doing it only as a precautionary move. 


The Merge will transition the ETH from proof of work to proof of stake and that will make ETH environmentally friendly by reducing the energy consumption needed to create new tokens by 99.95%. 



Read all about what is expected to happen after the Merge in our article here:

Ethereum price could explode after the Merge




Don't forget to follow us @cryptonezo to stay updated with the latest blockchain and cryptocurrency news

Amalia A.
Amalia A.
Writer
About the Author

NFT Artist, Book Author & Marketing Strategist Passionate about Blockchain, Crypto enthusiast