Cryptocurrency exchange Binance has stopped withdrawing and depositing ETH prior to the mainnet rollout. Incoming transactions will be inconclusive and result in loss of funds.
The deposit and withdrawal of synthetic ETH analogues that exist in other blockchains have also been suspended. We are talking about ETH analogues created in the Arbitrum and Optimism blockchains. And additionally in Wrapped Ethereum (Weth) from Ronin.
Tentatively, deposits and withdrawals will not be available until September 12th. On this date, the start of the merger of the main POW network and additional POS is scheduled.
However, according to Binance officials, the lockdown could drag on until networks such as Arbitrum and Optimism are stable.
The transition to a new mining principle will increase the scalability and performance of the blockchain. At the same time, all the time of the merger, users will be able to continue trading ETH in different currency pairs.
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