The Merge is expected to occur in the early hours of Thursday morning. Many leading crypto exchanges will suspend deposits and withdrawals of Ethereum Ethereum ERC-20 tokens ahead of the upgrade.The Merge is where Ethereum will change from a proof of work consensus mechanism to a proof of stake. It is expected to occur in the early hours Thursday morning.
The specific threshold of Total Difficulty, also known as Terminal Total Difficulty (TTD), will trigger the Merge. This is the time it will actually occur. Bordel.wtf places The Merge’s time at 5 a.m. UTC. This is an estimation and subject to change.
Many leading crypto exchanges will suspend deposits and withdrawals of Ethereum ERC-20 tokens in advance of The Merge.
Here are the plans from the top five crypto exchanges working on The Merge
According to a blog post, Binance, the largest cryptocurrency exchange, plans to suspend withdrawals and deposits for Ethereum ERC-20 tokens within one hour of The Merge.
Binance will handle technical requirements to allow forked tokens to credited at a 1:1 ratio if a chain split happens and the Ethereum proof-of work chain continues to exist, according to a blog post.
A blog post explains that Coinbase will temporarily suspend withdrawals and deposits for Ethereum ERC-20 tokens just hours before The Merge. The exact timeframe is still unknown.
According to a blog post, FTX intends to allow continuous trading during The Merge. After the upgrade, ether Futures and Perpetual Contracts will follow the proof-of–stake Ethereum price.
Okx will notify users when it plans to suspend services for The Merge.
A blog post stated that withdrawals, deposits, and transfers of ERC-20 tokens are being halted. However, trading services such as spot or futures trading will not be affected. Okx will keep track of the proof-of stake Ethereum price after The Merge.
Bybit will monitor price action after the Ethereum merge
According to a blog post, ByBit plans to monitor the proof-of stake Ethereum price after The Merge. We have not received information about any suspensions. This post states that forked Ethereum proof of work tokens will be accepted if approved by the risk management and security team.
Jump Crypto, a Web3 infrastructure and trading company, provided an complete list what the exchanges plan to do.