Binance Made Important Announcements for SHIB and These Altcoins!

Binance Pay users are now able to earn cash back and rewards on their Shiba Inu (SHIB) spend. Meanwhile, Binance announced the suspension of ETH transactions on Optimism, Arbitrum and Ronin Network prior to the Bellatrix upgrade. The purpose of the suspensions is to ensure that PoW tokens are properly allocated.

A gift for SHIB holders from Binance Pay!

Shiba Inu and other cryptocurrency holders powered by Binance Pay are now able to enjoy rewards for a limited time. From September 5-8, SHIB holders can participate in Binance Pay’s Token Pop game and win prizes. According to the announcement, Binance Pay has launched its next token games where eligible participants have a chance to receive up to $1,000 Cash Back Coupon, VIP Upgrade Coupon or Savings Trial Fund Coupon.

Binance Pay allows users to spend cryptocurrencies to shop from supported merchants. As we reported as Kriptokoin.com, Binance announced the addition of SHIB as a payment tool with Binance Card. Thus allowing users to redeem their assets at more than 90 million Mastercard stores worldwide. It also enabled them to use it for purchasing and paying bills at online retailers.

Meanwhile, in July, Shopping.io, which allows customers to order from Amazon, eBay, Walmart, and other major retailers with the help of over 200 cryptocurrencies, announced a promotional campaign with limited-time rewards for SHIB users.

Binance suspends trading on Arbitrum and Optimism and Ronin Network

Crypto exchange Binance is suspending deposits and withdrawals for Ethereum and Wrapped Ethereum on some popular layer-2 Ethereum networks prior to the Bellatrix upgrade. Binance will suspend ETH transactions on Arbitrum and Optimism. Additionally, Wrapped ETH on the layer-2 network Ronin Network on Ethereum will suspend transactions. The suspension will begin at 2 a.m. UTC on September 6, 2022. It will resume some time after Merge when the networks are determined to be stable.

Merge is an upgrade to the Ethereum network to change the consensus mechanism from PoW to PoS. Now Merge will launch with the Bellatrix upgrade on September 6, 2022. Next, the Ethereum team plans to complete the Merge between September 10 and September 20. With the Bellatrix upgrade, the mining difficulty is expected to increase to a point where it is no longer possible to mine Ethereum. When this happens, the execution layer of the Ethereum network will merge with the PoS consensus layer. Thus, it will mark the completion of Merge. The developers expect this to happen around September 15-16, 2022.