In September, there will be a very important development that concerns crypto money markets and altcoins.
The most important update in Ethereum’s transition to POS, which has been expected for years, will take place this month.
Merge is expected to take place on September 15, given the current hashrate of the Ethereum network.
The developments in Ethereum, which is the largest altcoin and which is in a very important position in terms of the direction of the altcoin market, will be closely followed by all investors.
Binance recently started a countdown on Ethereum Merge.
Accordingly, Merge has 12 days and 15 hours left. You can follow the Merge countdown instantly here.
What is Merge?
Merge actually means merger. Ethereum Mergealso known as the second phase of the ETH 2.0 update, is the merging of the existing Proof of Work (PoW) mechanism with the Proof of Stake (PoS) mechanism.
To learn more about Merge, you can review our guide below.
What Will Happen to Old ETHs?
Binance explained that they do not need to do anything during and after the Merge for the ETHs held in their own wallets.
“ERC-20 token holders on ETH and Binance will not need to do anything during the upgrade. Ethereum will continue to appear as ETH in users’ Binance wallets.”
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