The popular crypto exchange Kraken announced that it will take at least 6 months to allow the customers to unstake ETH.
Kraken is a popular crypto platform, known for its ability to provide secured & compliance-based crypto services. The exchange has hands in almost every type of crypto offerings like wallet, staking & trading. Due to better services, the exchange is standing at 4th rank.
On 15 September, Kraken exchange informed that the exchange aimed to support the Ethereum merge, to make the merge smooth, so it will keep ETH-based ERC-20 tokens withdrawal & deposit suspended.
As we know, on the same day, the merge was completed and now the Ethereum blockchain is operating on Proof-of-stake consensus.
-----Cryptonews AD----->>>
Sign up for a Bybit account and claim exclusive rewards from the Bybit referral program! Plus, claim up to 6,045 USDT bonus at . https://www.bybit.com/invite?ref=PAR8BE
<<<-----Cryptonews AD-----
In response to this tweet of Kraken, a Kraken exchange user asked about the time/date when Kraken will allow unlocking the Ethereum funds, which were deposited by the users to stake funds.
“Any update on when I can expect my unlocked Ethereum from staking on Kraken @krakenfx.”
Kraken exchange clearly said that Ethereum (ETH) can’t be unstaked by customers before Shanghai Upgrade and the expected timeframe of Shanghai Upgrade is at least six months and it can be further expanded to 1 year of time frame, which is not in hand of Kraken.
Hey Triumph
Unstaking of already-staked ETH tokens has been halted until the forthcoming Shanghai upgrade which the Ethereum Foundation expects will take place 6-12 months following The Merge.
For more info
https://t.co/HGYwMt9N63
Best,
Kraken Support— Kraken Support (@krakensupport) September 15, 2022
Another user talked about this thing on Twitter. Cardano founder Charles Hoskinson quoted that tweet thread and labeled this situation of Ethereum as a Hotel California of Crypto.
ETH Merge & Unconfirmed Time Frame
Before the Ethereum’ Merge to Proof-of-stake Consensus, the majority of the exchanges deposited ETH funds of the customers to give yield on holding, in the form of staking.
Every crypto exchange clearly said that an unstake of ETH will be allowed after the Ethereum’ Merge and also confirmed that the merge technically will take huge time and is not fixed.
At that time, probably, all the exchanges talked about this issue in advance.
The majority of the ETH stakes are thinking that they are deceived by their respective exchange because an increment in the price of ETH will not take place shortly and it is because main hype-based about Ethereum blockchain exosystem development works have been finished.
Read also: US White House releases an extended form of crypto regulation framework
Kraken will not allow ETH unstake for up to 1 year
https://bitcoinik.com/kraken-will-not-allow-eth-unstake-for-up-to-1-year/feed/
https://bitcoinik.com/kraken-will-not-allow-eth-unstake-for-up-to-1-year/feed/
Moon Grid trading bot
OKX’s new Moon Grid bot automatically buys low and
sells high within a wide price range using artificial intelligence based on market backtesting.
Quick to set up with smart entry and exit points!
How does it work?
- Select Trade in the main menu, then select Trading bot.
- Select a spot trading pair from the Trading bot menu.
- Select Moon Grid from the listed strategies.
- Enter the amount you want the bot to trade and click Create.
- Your bot will then be live.
- To view and manage your Moon Grid bot, select Bots at the bottom of the trading dashboard.
—————————————————————————————————————————————-
Risk Reminder:
Trading foreign exchange and/or contracts for differences on margin carries a high level of risk and may not be suitable for all investors.
The possibility exists that you could sustain a loss in excess of your deposited funds.
Before deciding to trade the products reviewed by Cryptonews24.eu, you should carefully consider your objectives, financial situation, needs and level of experience.
You should be aware of all the risks associated with trading on margin.
Cryptonews24.eu provides general news and advice that does not consider your objectives, financial situation or needs.
The content of this website must not be construed as personal advice.
Cryptonews24.eu recommends you seek advice from a separate financial advisor.
Nothing on this website should be considered financial advice.
This website is for informational purposes only and you should not rely on anything that is printed or said on this website to make any financial decisions.
