ETH Mining to Supposedly Be Halted Till The Merge
With the Ethereum Merge getting closer, the mining of ETH is anticipated to be halted on f2pool from the 10th and 20th of September 2022. The ETH pool of the platform will remain working until ETH mining’s termination. The venue has asserted that their miners will receive ETH balance following the accomplishment of The Merge upgrade. The miners would get the rewards over their mined ETH after the validation of the wallet address’ availability or incorporation of a valid address.
F2pool has additionally persuaded the miners to mine for free on its pools such as CFX, RVN, as well as ETC to generate more coins following The Merge. Apart from that, a great change has been witnessed in the exchange price of stETH on Curve. It has plummeted to 0.9585 ETH. In the present pool there are 155,860 ETHs (denoting 22.72%) as well as 530,141 stETHs (representing 77.28%). It seems that there may be a requirement for getting forked airdrops.
ETH Price Drops 8%
Simultaneous to this, a considerable decrease has been seen in the price of ETH. The crypto token has dropped by 8% while the liquidation amount thereof during the previous 24 hours was nearly three hundred and forty million worth in USD. Recently, Poolin – a pool for crypto mining – has declared to terminate the withdrawals in Bitcoin (BTC) as well as Ether (ETH) for the wallet service it provides.
A declaration from Poolin pointed out that this measure has been taken to organize the wallet addresses dealing with payouts. As a result of this, the consumers will just be permitted to select outside wallet addresses to avail of the payouts regularly. The chief reason behind the respect halt is the liquidity-related problems that originated after the excessive withdrawals.
A statement was noted by Poolin on Telegram disclosing that the assets of the consumers are secured and the net value of the firm is optimistic. To assure this, they added, the information about the remaining ETH and BTC balances will be shared with the customers via a snapshot. According to the venue, their coins did not undergo any negative effects.
The Confusion Regarding The Merge Causes Fluctuation in ETH Mining & Price
In the words of the commentators of the crypto market, the current fluctuation in the Ethereum market is caused by concerns related to the transition from PoW to PoS system. Due to this shift, confusion has prevailed among the customers regarding its reality as well as the actual time of its occurrence.
