Binance has released an official statement regarding its support for Ethereum's upcoming merge, confirming preparations for the transition to Proof-of-Stake (PoS).
Key Details of the Ethereum Merge
- Bellatrix Upgrade: Scheduled for September 6, 2022, at 19:34:47 UTC.
- Merge Completion: Expected around September 15, 2022, at 08:30 UTC.
During these critical milestones, Binance will temporarily suspend deposits and withdrawals for:
- ETH (Ethereum)
- All ERC-20 tokens
Post-Merge Scenarios
No New Token Created:
- Binance will promptly resume services and issue a follow-up announcement.
Chain Split with New Token:
- The "ETH" ticker will represent the PoS chain.
- Users holding ETH before the merge (at block height 15,540,293) will receive a 1:1 distribution of any forked token.
- Support for withdrawals of the new token will be added.
FAQs
Q: Will trading be affected during the merge?
A: Spot and futures trading for ETH will continue uninterrupted. Only deposits/withdrawals are paused.
Q: How will the forked token be credited?
A: Binance will snapshot ETH balances at the merge block height. Distribution details will be announced later.
Q: Are other networks (BSC, Solana) affected?
A: No. This applies only to the Ethereum network and ERC-20 tokens.
👉 Stay updated on crypto milestones like the Ethereum merge
This article has been optimized for clarity and SEO, focusing on Ethereum's merge, Binance's role, and user implications. All promotional or non-relevant links have been removed.
### Key SEO Keywords:
- Ethereum Merge
- Binance ETH Suspension
- ERC-20 Tokens
- Proof-of-Stake
- Hard Fork
- Bellatrix Upgrade
- Crypto Exchange Updates